The European Commission issued hundreds of millions of dollars on pharmaceutical makers including France’s Servier for pay-for-delay deals that were found to have distorted the market, according to reports.
Servier and five generic drug makers were fined a combined $580 million for colluding to prevent generic and cheaper forms of medication from hitting store shelves in deals known as pay-for-delay. The medicine under scrutiny is Perindopril, which is used to treat blood pressure issues.
The collusion lead to Servier “systematically buying out any competitive threats,” said European Commissioner Joaquin Almunia, who also called the actions “clearly anticompetitive and abusive.”
Servier itself must pay $450 million, reports said.
Full content: ABC News
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
South Korea’s Antitrust Regulator Greenlights K-Pop Powerhouse Deal
May 2, 2024 by
CPI
Exxon’s Pioneer Purchase Approved, Former CEO Barred from Board
May 2, 2024 by
CPI
Colorado Senate Rejects Bill Barring Rent-Setting Algorithms
May 2, 2024 by
CPI
Bayer Faces US Antitrust Suit Over Pet Meds Competition
May 2, 2024 by
CPI
Landmark Monopoly Trial Between DOJ and Google Wraps Up
May 2, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI