Chile’s economic overseer, the FNE, was presented this week with expert testimony from Yale economist James Levinsohn, during ongoing proceedings into determining whether three major Drug store chains entered into illegal agreements to raise the price of their products.
The FNE has accused 10 executives from the Salcobrand, Cruz Verde and Farmacias Ahumada chains of having established this agreement. The FNE asserts that Salcobrand executives would have led the rise in prices in coordination with their rivals, offering to take the first step in raising its own prices in order for their competitors to emulate them in predetermined intervals.
The Yale economist, who was called as a witness for the Defense, agreed in theory with the FNE’s interpretation that there doesn’t need to be any written agreement to coordinate such a price-fixing scheme, and therefore a written document is not needed for such actions to represent an ‘implicit’ collusion. According to the FNE, such unwritten coordination would have been facilitated by several Laboratories, who would act as messengers between the drugstore chains.
Full content: T13
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Redfin Settles $9.2M Commission Inflation Lawsuits
May 7, 2024 by
CPI
DOJ Supports Colorado’s Efforts to Block Kroger-Albertsons Merger
May 7, 2024 by
CPI
Japan Considers Regulation of AI Developers
May 7, 2024 by
CPI
European Commission Extends Decision Deadline for Ita-Lufthansa Merger
May 7, 2024 by
CPI
UK, US and Australia Sanction Senior Leader of LockBit Cybercrime Gang
May 7, 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