A PYMNTS Company

EU Allows Drugmakers To Cooperate In Virus Fight

By  |  April 8, 2020

Generic drugmakers will be allowed to cooperate to supply hospital medicines for COVID-19 patients without fear of breaching the bloc’s competition rules, EU antitrust regulators said on Wednesday, April 8. 

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The step is the latest loosening of the bloc’s strict antitrust rules to help tackle the novel coronavirus pandemic. 

    The European Commission, the EU executive, has allowed EU governments to hand out subsidised loans, grants, and defer tax payments to thousands of companies. 

    Regulators said waiving antitrust rules for generic drugmakers, which produce the largest part of critical hospital medicines, will help to avoid shortages. 

    “In the current circumstances, this temporary cooperation appears indeed justifiable under EU antitrust law, in view of its objective and the safeguards put in place to avoid anti-competitive concerns,” the EU executive said in a statement. 

    It will provide a business document, known as a comfort letter, to industry body Medicines for Europe, giving guidance on what will be allowed.

    Full Content: Reuters

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.