OFT accuses GSK over "pay-for-delay" drug deals
Source: Reuters
(Reuters) - The Office of Fair Trading (OFT) accused GlaxoSmithKline (GSK.L) of market abuse for striking deals with three generic drugmakers that paid them to delay launching cheap copies of its antidepressant Seroxat.
GSK, Britain's biggest drugmaker, said it believed it had acted lawfully. If it is found to have broken the law, it could be fined up to 10 percent of its worldwide turnover, which amounted to 26.4 billion pounds in 2012.
The move by the OFT is the latest example of regulators trying to curb "pay-for-delay" deals, following a series of investigations against drug companies by U.S. and European antitrust officials.
The OFT alleged on Friday that GSK concluded anti-competitive agreements with Alpharma, Generics (UK) and Norton Healthcare over the supply of paroxetine - a top-selling medicine sold by GSK under the brand name Seroxat.
Read more: http://uk.reuters.com/article/2013/04/19/uk-glaxosmithkline-antitrust-idUKBRE93I07420130419
