VENEZUELAN MEDICINE SHORTAGE

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Should Indian Companies Keep Supplying Medicines To Non-Paying Venezuela?

A profitable company like Dr. Reddy's, despite being owed millions still kept supplying drugs to struggling Venezuela. But when debt levels became unsustainable, it was forced to cut back. The unpaid receivables till last year stood at $60 million, and the number has surely considerably risen since then. With only $4 million of that received this January-March quarter, the company, being forced to write off its dues, saw a staggering 86% fall in profits.