Pfizer and Flynn Pharma fined €101 million for charging the UK health service excessive prices for Phenytoin sodium capsules, an anti-epilepsy drug
The UK Competition and Markets Authority (“CMA”) recently published its infringement decision of 7 December 2016 that imposed a fine on Pfizer and Flynn Pharma (“Flynn”) for abusing their respective dominant positions by charging excessive and unfair prices for phenytoin sodium capsules (“Phenytoin”).
In Europe, Aspen Pharmacare was recently fined by the Italian Competition Authority for similar practices, and is currently under investigation by the European Commission (“Commission”) for having allegedly implemented excessive prices in several EU Member states on five cancer drugs.
This sends a very clear message to pharmaceutical companies: competition authorities in the EU are willing to investigate drugs’ price levels in spite of national price regulations set by health authorities.
- Summary of CMA’s findings
- CMA’s characterization of the excessive prices
- Fines and remedies