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European Union Highest Court Upholds Antitrust Fine for AstraZeneca PLC-Reuters

Thursday, 6 Dec 2012 03:52am EST 

Reuters reported that Europe's highest court upheld a EUR 52.5 million European Union (EU) antitrust fine levied against AstraZeneca PLC for blocking the entry of cheaper rivals to its ulcer drug Losec. The General Court, Europe's second-highest, had backed the European Commission in 2010 against the Company, but cut the penalty to EUR 52.5 million from an original EUR 60 million. The Commission, which acts as EU antitrust and competition authority, originally penalized the Company for actions that according to regulators had kept Losec prices artificially high. 

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