Two millionaire brothers nicknamed Britain's 'Bollygarchs' have today been accused of being part of a group of businesses hiking up the prices of common drugs needed by the NHS.

Vijay and Bhikhu Patel, who started out with a single Essex pharmacy and are now worth £675million, have allegedly exploited a NHS' pricing loophole.

Today four businesses, including two with past and present links to the siblings, have allegedly hiked up the price of common drugs by up to 12,500 per cent, helping them rake in £262million a year.

The companies have been allowed to charge 'extortionate' prices by simply dropping the brand name and using a generic name instead, allowing them to legally bypass the NHS' pricing cap rules.

In one case highlighted by The Times a packet of steroid tablets sold for 75p in 2008 is now priced at £85.

In the firing line: Millionaire brothers Bhikhu, left with wife Shashi, and Vijay Patel, right with wife Smita, have been accused of using a loophole in the NHS pricing structure to hike up the cost of drugs

Success: Bikhu's Patel's grand Essex mansion close to Southend, funded by his highly successful pharmaceutical businesses

No answer: MailOnline asked to speak to Mr Patel at home today (pictured) but received no response - a member of staff at his Atnahs business said they would not comment on today's allegations

The Patel brothers' rag to riches tale has been widely celebrated, but today's allegations has opened them up to major criticism.

Vijay and Bhikhu Patel have been among Britain's richest Asians for years having amassed hundreds of millions from their pharmaceutical businesses.

They live in two of Essex's finest mansions, but the brothers came to the UK from Kenya as teenagers in 1967, arriving with little more than the clothes they came in.

Their timber merchant father died when they were young children, and their mother earned money by setting up a nursery. Aged 16 they came to Britain thanks to their late father's British passport.

After studying at night-school, Vijay, 66, opened a chemist's shop in Leigh-on-Sea in Essex in 1975.

Bikhu, 68, worked in a fish and chip shop to support himself while doing his A-levels and gained a place at Bristol University to read architecture.

Five years later he invested the £15,000 he had been able to save in his first business – two newsagent shops in Woolwich, south-east London.

The brothers then worked together to set up their first major company based around six pharmacies - they went on to own 25 shops before going on to make pharmaceuticals themselves.

Bhiku's early training in architecture also led to him becoming a developer setting up Sovereign Property Group, which was also extremely successful.

Two years ago they sold part of one of their companies, Waymade, which along with subsidiaries sent drugs to 110 countries, and was bought up to a private equity company in a £370million deal.

Claims: The businessmen, including the Patel brothers, have allegedly been allowed to charge 'extortionate' prices by simply dropping the brand name and using a generic name instead

Grand: Vijay Patel's modern mansion in stockbroker belt Essex, with grounds so large it appears to hold a larger aeroplane

Good life: Vijay Patel and his brother came from next to nothing before setting up businesses making them worth an estimated £675million

Then they set up Atnahs Pharma, which is already selling drugs across the world. But The Times has revealed that their rebranding of common drugs means they may be raking millions more from the NHS every year.

The Times has found that since 2011 32 medicines have risen in price by at least 1,000 per cent - a bill of £262million and enough to pay for an extra 7,000 junior doctors a year.

Their investigation found that four companies have been buying out of patent drugs no longer considered profitable by the bigger pharmaceutical companies.

They then buy the marketing rights, drop the famous brand name and use the drug name to bypass NHS pricing controls, it is alleged.

Among the 32 drugs having their prices hiked by were:

10mg tablets of steroid Hydrocortisone - up by 12,500 per cent from 70p in 2008 to £85 in 2016.

50mg of anti-anxiety drug doxepin up from £5.72 to £154 a packet since 2011.

Cyclizine 30mg tablets, used to treat nausea, up from £9.57 to £353.06 a packet.

The Times said a company the Patels set up in 2013, Atnahs, and previous company Amdipharm used the tactics, as are Mercury Pharma and Auden Mckenzie, run by others.

Amdipharm and Mercury were bought out by a private equity firm four years ago.

Bhikhu, left, and Vijay, right, sold up part of their Waymade business to a private equity company in a £370million deal

Vijay Patel used a rare interview in 2014 to back staying in the EU, despite 'nuisances over bureaucracy', saying: 'Open immigration is difficult', but added: 'The vast majority of immigrants want to work hard and better themselves'.

He added: 'We are immigrants and this country has made it possible for us to prosper. Of course we worked hard, but we are also grateful for the opportunity'.

Describing their humble beginnings he said: 'We were seriously poor. And if you've known that deprivation, you never want to go back there again'.

He said it gave them the motivation 'to get on and do something with yourself'.

Today both men enjoy the trappings of their wealth living in vast mansions, with expansive grounds and exclusive cars parked on their sweeping driveways.

Vijay Patel lives in a modern grey brick mansion in a commuter town in the heart of stockbroker belt Essex.

Large black wrought iron gates lead up to the property and on the right-hand side is a small lodge cottage at the entrance to the grounds.

The imposing mansion itself is at the bottom of a sloping driveway and is neo-Georgian in style.

There are a series of impressive red brick outhouses in the area around the main house, and the grounds are even big enough to contain a large aeroplane.

A Range Rover with personalised plate is parked outside the house.

Mr Patel's wife answered the door today and told MailOnline: You should try contacting him at his work.' His company gave a firm 'no comment' and hung up today.

Bhikhu Patel lives in a gated mansion in Essex, close to Southend.

Parked on the driveway is a Porsche Cayenne turbo, and a Mercedes saloon, both with personalised plates.

Starting out: This undated image is believed to show Vijay, far left, and Bhikhu, far right, pictured with their sister Manjula and parents Chhotabhai and Shahtaben

MailOnline tried the house's intercom today - a woman answered and then ended the call. The reporter then left a message. Neither men have responded.

The tactics of the companies involved are entirely legal - but are only increasing financial pressure on the already stretched NHS.

Not all the money from the price increase will go to the manufacturer, with some also going to the distributor.

MPs have reacted with fury at the news, and demanded that Health Secretary Jeremy Hunt closes the loophole.

Former Labour health minister Ben Bradshaw said: 'These revelations are extremely alarming at a time of severe financial constraint on the NHS.'

Chelsea and Westminster global health consultant Dr Andrew Hill told The Times the price hikes were 'extortionate' and that the NHS should have 'spotted this themselves'.

The prices of these drugs and the practice are now being investigated - although the The Times said that none of the companies involved are themselves known to be under investigation.

A Department of Health spokesman said: 'No pharmaceutical company should be exploiting the NHS. The Competition and Markets Authority is already investigating a potential abuse of generics pricing, and as part of a public consultation we have asked for views on government powers to limit the prices of generic medicines where there is no competitive market.'