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February 22, 2016.
The Competition and Markets Authority (CMA), a UK-based non-ministerial department monitoring market competition, has fined multiple pharmaceutical companies £45 million ($64.3 million) for pay-for-delay deals.
CMA says these deals “potentially deprived the National Health Service of the significant price falls that generally result from generic competition.” Chapter I prohibition of the Competition Act of 1998 prohibits these methods of competition restriction. A company found in violation of this act can face fines of up to 10% of its worldwide turnover.
See more on this story here at Pharmaceutical Technology.