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BRIEF-UK's CMA fines Pfizer, Flynn Pharma for epilepsy drug price hike
December 7, 2016 / 7:19 AM / 8 months ago

BRIEF-UK's CMA fines Pfizer, Flynn Pharma for epilepsy drug price hike

1 Min Read

Dec 7 (Reuters) - UK's Competition and Markets Authority (CMA)

* Fines Pfizer and Flynn 90 million stg for drug price hike to NHS

* Imposed a 84.2 million stg fine on Pfizer, and 5.2 million stg fine on the distributor Flynn Pharma

* Fines companies after finding that each broke competition law by charging excessive, unfair prices in UK for phenytoin sodium capsules

* Fines follow prices increasing by up to 2,600 percent overnight after the drug was deliberately de-branded in September 2012

* To ensure no risk to ongoing supply of phenytoin sodium capsules CMA has given companies between 30 working days and 4 months to cut prices

* Has also ordered the companies to reduce their prices.

* "Prices of the drug in the UK have also been many times higher than Pfizer's prices for the same drug in any other European countries" Source text: (bit.ly/2h55sCr) Further company coverage: (Bengaluru Newsroom: +91 806 749 1136)

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