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Reuters reveals Aspen staves off EU antitrust fine with offer to slash cancer drug prices

Health

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.

Article Tags

Topics of Interest: Health

Type: Reuters Best

Sectors: Equities

Regions: Europe

Countries: Belgium

Win Types: Exclusivity

Story Types: Exclusive / Scoop

Media Types: Text

Customer Impact: Major Global Story

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