UK fines Pharma Companies $360 million for overcharging NHS

Our fine serves as a warning to any other drug firm planning to exploit the NHS

40
Justice Fine Penalty
Picture: Poxabay

Last Updated on July 17, 2021 by The Health Master

Britain’s competition regulator said it has fined several drugmakers a total of more than 260 million pounds ($360 million) for overcharging the state-backed NHS healthcare network in relation to supply of hydrocortisone tablets.

The companies engaged in practices including buying potential rivals to keep them off the market, increase prices of the drugs as the sole provider and paying off competition, the Competition and Markets Authority said.

Medicine Factory
Picture: Pixabay

The regulator fined Actavis UK, Auden Mckenzie, Allergan Plc, Accord Healthcare, Intas Pharmaceuticals, Waymade Plc, Amdipharm, Advanz Pharma and some Cinven entities. Auden Mckenzie and Actavis UK together will pay 221.1 million pounds.

The watchdog said the firms charged the NHS “excessively high prices” for almost a decade for the steroid hydrocortisone, which is used to treat conditions where adrenal glands do not make sufficient hormones.

“These were egregious breaches of the law that artificially inflated the costs faced by the NHS, reducing the money available for patient care,” said CMA Chief Executive Andrea Coscelli.

“Our fine serves as a warning to any other drug firm planning to exploit the NHS.” The companies could not be immediately reached for comment.

Rs 10 crore fine imposed on Pharma Company: NGT

Indian Drug Mfr sentenced to pay USD 50 million in fines

Supreme Court imposes 5 Cr fine on UP Medical College

Indian Pharma Co to pay $50mn in fine for destroying records

5-year jail term, ₹50 lakh fine for Ads promoting fair skin: Draft

Hooka bar owner convicted for 3 years with fine Rs 1 lakh

Procedure to obtain license for manufacturing of Medical Devices

6 reasons: How Gel creams are different from traditional cold creams

NPPA caps trade margin on Pulse Oximeter, Nebuliser, Digital Thermometer

Kerala to create an independent Drugs Control Administration for Ayurveda

Nutraceutical Industry: A trending Market

NPPA seeks details for 29 formulations from Drug Mfrs to fix…

Subscribe for daily free updates

Telegram
WhatsApp
Facebook
LinkedIn

Enter your email address:

Delivered by FeedBurner