Basic Search  |  Summaries  |  Advanced SearchPenalty: £62,370,000
Year: 2022
Date: 21 July, 2022
Offence Group: competition-related offences
Offence Type: price-fixing or anti-competitive practices
Violation Description: Pfizer and Flynn were fined £63 million and £6.7 million respectively after a finding by the CMA that the companies illegally exploited their dominant market position to charge the NHS excessive prices for phenytoin sodium capsules, an anti-epilepsy medicine, with Pfizer stopping sale of its price regulated branded version and transferring the contract to Flynn who sold the same phenytoin as a generic price unregulated drug with over 1000% price increases. In November 2024 the Competition Appeal Tribunal agreed with most of the drug firms' grounds of appeal, but imposed the same level of fines as the CMA, but for a 1% reduction of Pfizer's fine.
Agency: Competition and Markets Authority
HQ Country of Parent: United States
Ownership Structure of Parent: publicly traded
Major Industry of Parent: pharmaceuticals
Specific Industry of Parent: pharmaceuticals
Source of Data: (click here)