There’s been an update in the huge pharmaceutical drugs competition investigation update being conducted by the Competition and Markets Authority (CMA).
The update for the investigation, which is one of many investigations in to anti-competitive behaviour in the pharmaceutical drugs sector, is now a review into suspected anti-competitive agreements. There is also at least a suspicion of concerted practices in relation to generic pharmaceutical products.
If anti-competitive behaviour or agreements are identified, big fines could be issues against the offending organisations.
Drugs competition investigation heats up
The recent announcements means that this latest drugs competition investigation being conducted by the CMA is set to heat up. The investigation started in October 2017, and the CMA are believed to now be looking into whether there is sufficient evidence of an infringement of important competition law.
If anti-competitive agreements or concrete practices are identified in the sector, the fines that could be issues to organisations involved could run into the millions of pounds.
The importance of this latest drugs competition investigation
The importance of this latest drugs competition investigation – which is one of many in recent years – cannot be undervalued. If the price of vital lifesaving drugs that patients need are being manipulated for profit, the expense is to both the consumer and our NHS.
You would think that organisations would not have the audacity to overcharge the NHS, but you’d be wrong. The CMA has had to investigate a number of pharmaceutical giants for drugs competition investigations that involves overcharging our NHS.
The drugs competition investigation is being conducted under Chapter I CA98 and Article 101 TFEU. If a breach is found, we look forward to seeing swift action to ensure heavy fines are levied on the offending parties. The concept of profits over people is sickening, and it’s hard to believe that companies would engage in such behaviour. Sadly, they do.
The Competition Lawyers will be keeping a very close eye on the continuing developments.