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A drug company that increased the price of a crucial thyroid remedy more than 10-fold has prompted fines of more than £100m by the competition watchdog.
Advanz pushed up the price of thyroid tablet packs from £20 in 2009 to £248 in 2017, making the drug unaffordable for the NHS.
It exploited a loophole enabling it to reap much higher profits , the Competition and Markets Authority said.
The fine applies to Advanz and two private equity firms.
The CMA said its latest fine sent a clear message to the pharmaceutical sector that breaking the law would not be tolerated.
CAT upholds infringement decision for pay for delay pharma deals
The Competition Appeal Tribunal has upheld the CMA decision that GlaxoSmithKline and some generic suppliers of the anti-depressant paroxetine broke competition law.
From:
10 May 2021
The Competition Appeal Tribunal (Tribunal) has, however, imposed reduced fines of £27.1 million on the firms involved.
Paroxetine is relied on by patients to relieve symptoms of depression. GlaxoSmithKline plc (GSK) had agreed to make payments totalling £50 million to other generic suppliers of paroxetine, including Generics (UK) Limited (GUK) and Alpharma Limited (Alpharma), in settlement of patent litigation.
In a decision issued in 2016, the Competition and Markets Authority (CMA) found that these payments were aimed at delaying the potential entry of these competitors supplying generic medicines into the UK market and were unlawful. The CMA imposed fines totalling £44.99 million on the companies directly involved in the inf
Roland has anti-competition fine increased to £5m after appealing
26th April 2021
Roland has had its appeal against a £4m ($5.6m) fine dismissed by the UK’s Competition Appeal Tribunal (CAT), resulting in a higher fine of £5m ($6.9m).
The music instrument maker was originally fined by the Competition and Markets Authority (CMA) in June 2020 for restricting online discounting of its electronic drum kits between 2011 and 2018.
The fine imposed by the CMA had been reduced to take account of the fact that Roland had admitted acting illegally and cooperated with the CMA’s investigation.
However, Roland then appealed against the level of the fine that it had agreed to pay as part of its CMA settlement on the grounds that its conduct was not serious enough to justify such a high penalty.
Date Time
CAT increases fine after musical instrument firm breaks settlement bargain
In June 2020, the Competition and Markets Authority (CMA) fined the musical instrument firm Roland just over £4 million for restricting online discounting of its electronic drum kits between 2011 and 2018. This was one of several fines imposed by the CMA on leading musical instrument suppliers for requiring retailers to sell their products online at or above a minimum price, a practice known as ‘resale price maintenance’ (RPM).
The fine imposed by the CMA had been reduced under its leniency and settlement programmes to take account of the fact that Roland had admitted acting illegally and cooperated with the CMA’s investigation. In a highly unusual move, Roland appealed to the Competition Appeal Tribunal against the level of the fine which it had itself agreed to pay as part of its settlement with the CMA.