$580 million EU antitrust fine for drug makers - WFLA News Channel 8

$580 million EU antitrust fine for drug makers

Posted: Updated:

BRUSSELS (AP) - The European Union's antitrust body is imposing a fine of 428 million euros ($580 million) on France's pharmaceutical company Servier and five producers of generic medicines for distorting competition.

The 28-nation bloc's executive Commission on Wednesday said Servier struck a series of deals with the producers of generic medicines to protect its bestselling blood pressure medicine, Perindopril, from price competition.

EU competition chief Joaquin Almunia says Servier's practices of "systematically buying out any competitive threats" to protect its market was "clearly anti-competitive and abusive."

The Commission says Servier must pay a fine of 331 million euros ($450 million). The remaining fine of about 100 million euros is split between the five producers of generic medicines according to the extent of their involvement. They are Niche/Unichem, Matrix, Teva, Krka and Lupin.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Powered by WorldNow

200 South Parker Street, Tampa, FL 33606

Telephone: 813.228.8888
Fax: 813.225.2770
Email: news@wfla.com

Can’t find something?
Powered by WorldNow
All content © Copyright 2000 - 2014 Media General Communications Holdings, LLC. A Media General Company.