GlaxoSmithKline Pakistan Limited (PSX: GLAXO) has refuted allegations made by the Drug Court Rawalpindi against certain employees for distributing substandard drugs. The pharmaceutical company stated its intention to appeal the verdict, as disclosed to the main stock exchange on Tuesday.
“We wish to inform you that the Drug Court Rawalpindi has issued a verdict dated April 22, 2024, in Case Judicial No. 4229/DC/Rwp/22 against present and past officers of GSK under the Drugs Act 1976 concerning the supply of substandard drugs,” the stock filing announced.
It further stated, “Both GSK and the implicated officers in the proceedings refute any wrongdoing in this regard and are promptly taking measures to contest the judgment above through the appellate process.”
GLAXO is involved in producing and promoting research-based ethical specialties and pharmaceutical products. It operates as a subsidiary of S.R. One International B.V., registered in the Netherlands, with GlaxoSmithKline plc, UK (GSK plc) as its ultimate parent company.
