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EU Commission Imposes Fines on Pharma Companies for Price Fixing

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LI Network

Published on: October 20, 2023 at 10:50 IST

In a significant development, the European Commission announced on Thursday that it has imposed fines totaling 13.4 million euros ($14.1 million) on five pharmaceutical companies as part of an antitrust investigation settlement.

The companies facing fines include Alkaloids of Australia, Alkaloids Corporation, Boehringer, Linnea, and Transo-Pharm.

They were penalized for their involvement in a cartel that aimed to manipulate the minimum price of an essential ingredient used in the production of the abdominal antispasmodic drug Buscopan and its generic versions.

This action underscores the European Commission’s commitment to ensuring fair competition within the pharmaceutical industry.