Pfizer India responds to counterfeit drug investigation

What happened

The Karnataka FDA canceled 16 drug licenses and suspended eight others due to alleged counterfeit medicine sales.
Authorities seized machinery and medicines worth Rs 5.05 crore from an alleged illegal repacking operation.
Pfizer India stated it is cooperating with authorities and has removed affected batches from the market.

Financial terms from this story, in everyday words.

Counterfeit: Fake or imitation goods made to look like the original product.
FDA: Food and Drug Administration, a government body that regulates food and medicine safety.

Original source

NewsData.io

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