July 25, 2012 / 10:26 AM / 5 years ago

Lundbeck denies violating European competition law

COPENHAGEN, July 25 (Reuters) - Danish drugmaker Lundbeck rejected on Wednesday European regulators' allegations that it had broken EU competition rules by blocking the entry of cheaper generic drugs onto the market.

The European Commission said Lundbeck, Germany's Merck and seven other companies had used tactics that breached EU antitrust rules.

"Lundbeck vigorously opposes any allegation of wrongdoing and does not believe its practice has violated European competition law," Lundbeck said in a statement.

The European Commission has been stepping up scrutiny of settlements between drug companies in recent years over concerns some may prevent consumers from obtaining lower-priced medicines.

Lundbeck said the European Commission's statement of objections was related to agreements concluded with four generic competitors concerning Lundbeck's antidepressant citalopram.

"Lundbeck's policy is to comply with all applicable laws, including Competition Laws, and this policy is taken very seriously by the company and its employees," Lundbeck's general counsel Mette Carlstedt said in the statement. (Reporting by Copenhagen newsroom)

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