South Africa’s Aspen Pharmacare Holdings warded off a possible hefty EU antitrust fine after regulators accepted the pharmaceutical company’s offer to cut cancer drug prices in Europe by about two-thirds in return for ending a three-year long EU investigation without any finding of infringement and penalty. The landmark case, the first against excessive pricing, was confirmed by the European Commission on Feb. 10, a week after Reuters broke news of the impending decision. The European Commission has in the last decade cracked down on the pharmaceutical industry for pay-for-delay deals between brand name companies and their generic rivals, while shying away from excessive pricing cases.
Health
Reuters reveals Aspen staves off EU antitrust fine with offer to slash cancer drug prices
03 February 2021, 2:47 pm 1 minute
Article Tags
Topics of Interest: Health
Type: Reuters Best
Sectors: Equities
Regions: Europe
Countries: Belgium
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Major Global Story