The United Kingdom has slapped fines of 2.3 million pounds ($2.9 million) on three pharmaceutical companies and secured another 8 million pounds ($10.1 million) for the National Health Service (NHS) as a result of a competition probe into the supply of life-saving medicine fludrocortisone, the watchdog said on Thursday
MOSCOW (Pakistan Point News / Sputnik - 09th July, 2020) The United Kingdom has slapped fines of 2.3 million Pounds ($2.9 million) on three pharmaceutical companies and secured another 8 million pounds ($10.1 million) for the National Health Service (NHS) as a result of a competition probe into the supply of life-saving medicine fludrocortisone, the watchdog said on Thursday.
According to the Competition and Markets Authority (CMA), it found that three pharmaceutical companies - Amilco, Tiofarma and Aspen - struck an anti-competitive agreement, under which the latter could have a position of the sole supplier of fludrocortisone, a prescription-only medicine used to treat adrenal insufficiency, in the country.
This deal led to the price of the drug supplied to the NHS jumping by up to 1,800 percent.
"The CMA has also now levied fines totalling just under 2.3 million for this illegal behaviour. As well as the fines, Aspen approached the CMA last year and agreed to pay the NHS 8 million to help resolve the CMA's competition concerns in relation to fludrocortisone," the watchdog said.
The press release specified that the latter payment had already been made.
