Thread by @ibaruah_

News making rounds of "145%" profit margin in price shared btw distributor & importer of Rapit Antibody Kits procurred by #ICMR . @INC IT cell jumping on the bandwagon with #BJPCoronaCorruption hashtag. This articles states facts. orissadiary.com/icmr-asks-stat…

#ICMR got ONLY 4 bids(!) for the procurement @ rates ₹1,204, ₹ 1,200, ₹844 and ₹600. ICMR went with lowest (L1 tender sys) ₹600+GST by a firm called Aark Pharmaceuticals, with approval from govt. Disgraceful for the other biz too for these exuberant quotes in such pendemic.

Matrix Labs is the importer of rapid test kits made by #China’s #Wondfo. Rare Metabolics is the distributor of Matrix. Further, Rare signed Aark Pharma as distributors. Matrix Labs (landed cost @ ₹245 / test) sold to Rare @ ₹400 / test, and supplied to #ICMR @ ₹600. ~145% ⬆️.

#ICMR tried to procure the kits directly. But #Wondfo quoted non-viable terms for a first-timer govt. agency:
100% direct advance w/o any guarantees.
No commitments on timeline.
Rates in USD w/o any clause for fluctuation in prices.
Hence, it was decided to go with a distributor.

#ICMR has not made any payment for them, due after the supplied kits pass tests that meet the standards, so GoI doesn't stand to lose a single rupee. A court verdict also capped kits @ ₹400 (inc. GST). However in this chaos, time value has been lost and perhaps lives ...

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