Post by account_disabled on Dec 30, 2023 22:14:20 GMT -6
Ato Flynn Pharma at prices that were significantly higher than they were previously sold as Epanutin in the UK between and more higher than Pfizers previous prices. Flynn Pharma then sold the products to wholesalers and pharmacies in the UK charging prices that were between and higher than what they had previously paid for the drug. The final decision and fines relate to both the prices that Pfizer charged Flynn Pharma and those charged by Flynn Pharma to its customers starting in September.
The CMA found that both companies held a dominant position on the Country Email List relevant markets for the manufacture and supply of phenytoin sodium capsules and each abused this dominant position by charging excessive and abusive prices . In this sense the President of the decisionmaking group for the investigation carried out by the CMA stated that the companies deliberately exploited the opportunity offered by the transformation of the product into a generic to increase the price for a medicine that is requested by thousands of patients. These extraordinary price rises have cost the NHS and taxpayers tens of millions of pounds. Businesses are generally free to set the prices they see fit but those holding a dominant position should not abuse this situation and set prices that are excessive and unfair.
There is no justification for such practices especially when phenytoin sodium is a very old drug for which there has been no recent innovation or significant investment. This is the largest fine the CMA has imposed and sends a clear message to the sector that we are determined to deter such behavior and protect customers including the NHS and taxpayers from being exploit. was initially lossmaking the CMA calculated that according to Pfizers figures all of these losses would have been recovered within months of the price increase. To ensure that there should be no risk to the.
The CMA found that both companies held a dominant position on the Country Email List relevant markets for the manufacture and supply of phenytoin sodium capsules and each abused this dominant position by charging excessive and abusive prices . In this sense the President of the decisionmaking group for the investigation carried out by the CMA stated that the companies deliberately exploited the opportunity offered by the transformation of the product into a generic to increase the price for a medicine that is requested by thousands of patients. These extraordinary price rises have cost the NHS and taxpayers tens of millions of pounds. Businesses are generally free to set the prices they see fit but those holding a dominant position should not abuse this situation and set prices that are excessive and unfair.
There is no justification for such practices especially when phenytoin sodium is a very old drug for which there has been no recent innovation or significant investment. This is the largest fine the CMA has imposed and sends a clear message to the sector that we are determined to deter such behavior and protect customers including the NHS and taxpayers from being exploit. was initially lossmaking the CMA calculated that according to Pfizers figures all of these losses would have been recovered within months of the price increase. To ensure that there should be no risk to the.