BRUSSELS, July 9 European Union antitrust regulators fined French drugmaker Servier, Israel's Teva and four others 427.7 million euros ($583.40 million) on Wednesday for blocking cheaper generic medicine.
"Servier had a strategy to systematically buy out any competitive threats to make sure that they stayed out of the market. Such behaviour is clearly anti-competitive and abusive," European Competition Commissioner Joaquin Almunia said in a statement.
The other penalised companies were Unichem and its subsidiary Niche, as well as Matrix, which is now known as Mylan Laboratories, Slovenian peer Krka and Lupin. (Reporting by Foo Yun Chee; editing by John O'Donnell)