Delhi HC to examine EOW status report on Ozempic scam probe

The Delhi High Court will review the EOW's report on a ₹157 crore counterfeit Ozempic scam involving Indian national Swapnadip Roy on February 6.

The Delhi High Court will examine on February 6 the status report filed by the Economic Offences Wing (EOW) in connection with its probe into the alleged ₹157 crore international counterfeit Ozempic scam, in which the agency said it is investigating the alleged involvement of Dubai-based Indian national Swapnadip Roy, whose name surfaced during the investigation.

The court will examine the status report on February 6. (HT Archive)

EOW’s September 2025 status report was filed in the anticipatory bail application preferred by one Vicky Ramancha, accused of criminal conspiracy and cheating a US-based company, Assure Global, by supplying them counterfeit pharmaceutical drugs, specifically Ozempic. Ozempic is used to treat Type-2 Diabetes and is an anti-obesity medication used for long-term weight management.

The case against Ramancha stemmed from a June 2025 complaint by Assure Global before the EOW, alleging that he and his firms, R & R Global Procurement Corp and RNR Premier Medical Equipment’s Trading LLC, defrauded the company of ₹157 crore by supplying counterfeit pharmaceutical products and operating an international syndicate using fraudulent documents and false claims of affiliation with the government of India.

On August 13 last year, the trial court denied anticipatory bail to Ramancha, observing that such incidents pose a threat to the reputation of India’s pharmaceutical industry and jeopardise public health. However, while hearing Ramancha’s plea challenging the trial court’s order on August 19, the high court directed EOW not to take any coercive action against him and instructed him to join the investigation.

Apart from its submissions regarding Roy, EOW in its status report also opposed Ramancha’s plea, saying that during the investigation he failed to provide account statements of his Dubai-based company, M/s RNR Premier Medical Equipment’s Trading LLC, where the funds were allegedly received, as well as emails exchanged with Chinese firm M/s Ouchi Pharmaceuticals Trade regarding procurement of products meant for Assure Global. The agency further submitted that the investigation is at a preliminary stage and that the amount cheated is yet to be recovered.

Even Assure Global, in its affidavit filed in December last year through advocate Namit Saxena, also opposed the petition, contending that the present case has wide-ranging implications, including risks to India’s reputation as a reliable pharmaceutical manufacturer, potential harm to the legitimate export sector, adverse consequences for international trade, and serious public health and safety concerns arising from counterfeit medicines.

The company alleged that Ramancha’s highly organised operations indicate clear criminal intent rather than mere commercial failure, pointing to deliberate misrepresentation, systematic fraud across multiple jurisdictions, and coordinated efforts to evade legal liability, and his presence was necessary for the probe.

To be sure, the case also attracted the attention of US federal authorities, during which the complainant company received subpoenas (notices to appear in court or to produce evidence) from the US Department of Justice regarding potential violations of federal criminal laws, including importation and misbranded drugs.