03 February 2021, 2:47 pm. 1 minute
South Africa’s Aspen Pharmacare Holdings warded off a possible hefty EU antitrust fine after regulators accepted the pharmaceutical company’s offer to cut cancer drug prices in Europe by about two-thirds in return for ending a three-year long EU investigation without any finding of infringement and penalty. The landmark case, the first against excessive pricing, was confirmed by the European Commission on Feb. 10, a week after Reuters broke news of the impending decision. The European Commission has in the last decade cracked down on the pharmaceutical industry for pay-for-delay deals between brand name companies and their generic rivals, while shying away from excessive pricing cases.
Topics of Interest: Health
Type: Reuters Best
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Major Global Story