HYDERABAD: Details of crores of rupees are not available with Hetero Labs Ltd, when income-tax department officials left the Sanatnagar offices of the firm late on Thurdsday night. Sourceds said they took some material from the offices.
On the second day of raids at 20 locations, I-T sleuths were looking for accounts of which was not accounted for.
According to sources, they are scrutinising the Andhra Pradesh government hospital medical bills and the production schedules of medicines. The company in the last two years has produced the highest amount of medicines and has supplied more than 60 per cent to Andhra Pradesh hospitals.
The inventory of supply and demand is being scrutinised. The query raised in the department according to sources was 'in the last eight years they have not produced the capacity that has been done in the last two years'.
Why did one company supply 60 per cent medicines to government hospitals in Andhra Pradesh? Why did one company get the contract to supply 40 per cent medicines in other states are queries that are being looked into.
It may be noted that Hetero Group was the only company that produced generic drugs remdesivir and toclizumab for treating Covid-19 in India. Both the drugs are patented but due to the crisis, the Emergency Use Authorization was granted by the Drugs Controller General of India.
This generic drug, according to sources, was utilized not only in India but also exported to Africa and parts of Asia.
This has increased the company's wealth and their production capacity scaled by 80 per cent. IT officials are seeking information on many aspects pertaining to the last two years, explained sources.