EU to Fine Lundbeck Inc. (LUN.CO), Others for Blocking Generic Drugs
6/4/2013 7:37:57 AM
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A European regulator will fine Denmark's Lundbeck and eight other makers of generic drugs for limiting the supply of cheaper medicines, two people with knowledge of the matter said, its first sanction against "pay-for-delay" deals.
Following an inquiry launched in 2009, the European Union's anti-trust regulator will impose a "significant" fine on Lundbeck and lesser fines on Germany's Merck KGaA this month, the people said. Seven smaller drug firms will also be fined.
The sanctions underscore the determination of EU and U.S. regulators to break agreements that involve brand-name drug companies paying generic manufacturers not to deliver cheaper versions of their drugs to the market, a practice that ultimately harms consumers.
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