Explanation:

Union Minister of Health and Family welfare recently inaugurated the 7th Edition of the International Conference “MASCRADE 2021”- Movement against Smuggled & Counterfeit Trade, a flagship event organised by the FICCI (Federation of Indian Chambers of Commerce & Industry). The event is being held virtually this time in view of the pandemic precautions.

• The aim of MASCRADE 2021 is to foster a healthy discussion on newer and practical strategies to mitigate the challenges of counterfeiting and smuggling especially in a post COVID era.
• Under the Drugs & Cosmetics Act, if any drug is deemed to be adulterated or spurious, then the offender or liable person may face imprisonment for a term which shall not be less than ten years but which may extend to imprisonment for life.

Hence option 4th is correct.