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Chemists boycott Glaxo, Novartis products
12 June, 2005
Chemists in India start boycotting GlaxoSmithKline and
Novartis products; say the violate trade agreements
BY OUR PHARMA CORRESPONDENT
The retail pharmacists across India have started boycotting the products supplied by GlaxoSmithKline Pharmaceuticals Ltd (GSK) and Novartis India Ltd.
The All India Organisation of Chemists and Druggists (AIOCD), the leading trade body representing majority of organized retail chemists, chose to boycott the products made by these two MNCs, protesting violation of trade agreements.
AIOCD, according to an official statement, has urged the companies to resolve the issues at the earliest. If the companies fail to solve the issues raised by AIOCD on or before June 14, the wholesalers will retrieve the stocks supplied to retailers. Any further delay will force the retailers to stop selling the remaining stocks of these companies from retail from June 20.
The trade body has been demanding the companies to absorb the Central Sales Tax burden (excluding excise duty), for sometime now. They also wanted 21 days of credit period for payments, instead of 12 days which currently these firms offer. They also raised complaints against offering sales promotion bonus schemes which are unaffordable to small scale retail chemists.
BY OUR PHARMA CORRESPONDENT
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