The UK Competition and Markets Authority (“CMA”) has announced that Pfizer has been imposed to 63.3 million Pounds monetary fine and Flynn has been imposed to a monetary fine of around 6.7 million Pounds since they have abused their dominant position by charging unfair prices for over 4 years for pehnytoin sodium capsules, which are used in epilepsy treatment.
It has been stated in the announcement that prices charged by Pfizer increased between 78*% and 1600%, while prices charged by Flynn increased between 2300% and 2600% during the mentioned period of time. It has also been underlined that the National Health System, which covers the costs of pharmaceuticals, had no choice but to pay the inflated prices.
Accordingly; following the Aspen decision of the European Commission, which is the first unfair price decision of the pharmaceutical industry, another competition authority has detected unfair pricing behavior. The matter was previously investigated by the CMA and re-brought to the CMA after judicial proceedings.
You can access the announcement regarding the decision from the link below: