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EU Fines Ranbaxy Laboratories Ltd And Others For Blocking Cheaper Drugs-Business Standard

Wednesday, 19 Jun 2013 05:37am EDT 

Business Standard reported that EU antitrust regulators fined nine drugmakers a total of EUR146 million on June 19, 2013 for blocking the supply of cheaper medicines on the market, with a penalty of EUR94 million imposed on Denmark's Lundbeck. The punishments follow a 2009 report by the European Commission on the pharmaceutical sector, which said pay for delay deals lead to consumers paying as much as 20 % more for their medicines. The European Commission, which acts as competition regulator across the 27 member European Union, imposed a EUR21.4 million fine on Germany's Merck KGaA and another EUR7.77 million on it jointly with former subsidiary Generics UK, which is now owned by U.S. generic drugmaker Mylan. The other penalised companies were Arrow, Resolution Chemicals, Xellia Pharmaceuticals, Alpharma which is now part of Zoetis Products LLC, A.L. Industrier and Ranbaxy Laboratories Ltd.