Friday, 12 February 2016
Watchdog fines GSK £37m for paying to keep generic drugs out of UK market
GlaxoSmithKline is considering an appeal after the UK’s competition watchdog fined the company more than £37m for allegedly paying drugs manufacturers millions of pounds to keep cheap generic medications out of the UK market.
The fine is the biggest that the Competition and Markets Authority (CMA), and its predecessor the Office of Fair Trading (OFT), have levied on a single company since it handed British Airways a £58.2m penalty in 2012.
It is also the largest fine ever to be handed to a drugs company by a UK competition regulator. The last pharmaceuticals firm to be penalised was Reckitt Benckiser, which was fined £10.2m in 2011 for issues relating to its acid reflux medication Gaviscon.
Back in 2012, GSK was fined $3bn (£1.9bn) by a US court after admitting bribing doctors and encouraging the prescription of unsuitable antidepressants to children.
More on this story here.