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29.04.2024 | 🇬🇧 UK competition authority
The Competition Appeal Tribunal upheld a penalty imposed by the Competition and Markets Authority (CMA) on Accord-UK for engaging in a market-sharing agreement with Auden Mckenzie, now known as Actavis UK. This agreement involved paying off a potential rival to prevent competition in the hydrocortisone market, leading to excessive and unfair pricing practices. The CAT's decision highlighted the seriousness of the anti-competitive behavior, emphasizing the importance of fair competition in the pharmaceutical industry. The case also involved other pharmaceutical firms like Waymade and AMCo (now Advanz Pharma), with fines totaling almost £130 million for various anti-competitive practices. The CMA's investigation revealed that Auden/Actavis charged excessively high prices for hydrocortisone tablets, impacting NHS costs and taxpayer funds. The CAT's rulings confirmed the CMA's findings and penalties, underscoring the need for competition law enforcement to ensure fair pricing and market competition in the pharmaceutical sector.
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