Fortis Healthcare rejects over-pricing of drugs charge
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New Delhi [India], Dec.16 (ANI): Fortis Healthcare has rejected charges of over pricing the medicines that it is giving to its patients.
In a statement, it said, "Fortis Healthcare does not charge any drug or consumables above the printed MRP and there is No Violation of Drug Price Control Order. It should also be noted that our end price to the patient is very much in line with what other private hospitals in India charge."
"Looking at individual prices of any single item as a stand alone takes the margin/profit topic out of context. To understand the total profit scenario and overall business performance, one should look at the financial margins for the Fortis hospital business. As such, it should be noted that the Fortis hospital business reported operating profit (EBITDA) hover the last four published quarters of 5 to 6 percent and a negative PAT(profit after tax) for the same period of time."
In a statement, it said, "Fortis Healthcare does not charge any drug or consumables above the printed MRP and there is No Violation of Drug Price Control Order. It should also be noted that our end price to the patient is very much in line with what other private hospitals in India charge."
"Looking at individual prices of any single item as a stand alone takes the margin/profit topic out of context. To understand the total profit scenario and overall business performance, one should look at the financial margins for the Fortis hospital business. As such, it should be noted that the Fortis hospital business reported operating profit (EBITDA) hover the last four published quarters of 5 to 6 percent and a negative PAT(profit after tax) for the same period of time."
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