Covid 19

Massive 145% Profiteering in Sale of COVID-19 Test Kits Exposed

The Indian distributor, Real Metabolics had sold the COVID-19 test kits to the govt at an inflated price which has now been disclosed in Delhi HC.

New Delhi| Amid an unprecedented crisis face by India and the world due to the novel coronavirus pandemic, a legal conflict between an importer and a distributor has revealed massive profiteering in the delivery of COVID-19 test kits to the ICMR.

SARS CoV-2 Antibody test kits procured from China whose delivered cost was Rs 245/ test, were sold to the Indian Council of Medical Research for Rs 600/ test, a huge profit margin of 145%, as per the details provided in Delhi High Court,

  • The $3 per test SARS CoV-2 Antibody test kits are being imported from China’s Wondfo
  • Its landed price, including air freight (Rs 20), to importer Matrix Labs, is Rs 245 per test
  • ICMR placed an order to buy 5 lakh kits on March 27, 28 @Rs 600 (plus GST) per test
  • Importer Matrix Labs sells to distributor Rare Metabolics Life Sciences at Rs 400 per test
  • Rare Metabolics contracted to ICMR at the government-approved rate of @Rs 600 (plus GST)
  • 2.76 lakh have been delivered to ICMR; remaining 2.24 lakh tests are about to land
  • Rare Metabolics intends to sell 1 million kits; an order was placed with Matrix for 5 lakh kits
  • Matrix Labs has an order to supply 50,000 kits to Tamil Nadu through dealer Shan Biotech and Diagnostics at Rs 600 per test
  • Of this, 24,000 have already been supplied; 26,000 more are yet to be delivered

Also Read: COVID-19 Confirm Cases Differs in NCDC And ICMR’s Data, Shows Difference of 1,087 Patients

The profiteering racket exposed when Rare Metabolics Life Sciences Pvt Ltd and Aark Pharmaceuticals, distributors of Wondfo Biotech’s SARS CoV-2 Antibody kits shipped by Matrix Labs requested the Delhi High Court to get their contract enforced.

(Inputs from Agencies)

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