Court Denies Bail in Multi-Million Dollar Pharma Drug Scam

A Delhi court has rejected the anticipatory bail plea of Vicky Ramancha, implicated in a multi-million dollar international fraud involving counterfeit pharmaceutical drugs. The scam, particularly concerning the anti-diabetic drug Ozempic, has sparked significant concern over public health and industry integrity.

Judge Saurabh Partap Singh Laler emphasized the necessity of swift legal action against such pharmaceutical crimes to preserve India's reputation as the 'pharmacy of the world'. The case unveiled a sophisticated transnational conspiracy involving financial damage exceeding USD 18.8 million, affecting J Assure Global LLC.

The court's decision highlighted the intricate nature of the crime, including global money laundering operations and potential jurisdictional challenges. The court denied bail, citing potential flight risk and international implications, while urging the investigating agency to prioritize legal protocols in arrest decisions.

(With inputs from agencies.)