The allegations are adding up against the former Actavis unit in the UK A couple of months after competition watchdogs took issue with a 12,000% price hike on hydrocortisone tablets, authorities are rolling out new claims the company entered “anticompetitive” and “illegal” agreements on the med.
The UK’s Competition and Markets Authority on Friday said agreements by Actavis and Concordia delayed competition for the drug, used by thousands of patients in the UK as a primary replacement therapy for adrenal insufficiency.
Israel’s Teva bought Actavis for $40.5 billion last summer and subsequently offloaded the UK outfit as mandated by antitrust authorities. In an email today, Teva said that while it received the CMA complaint, Actavis UK “has never in practice been controlled by Teva due to the hold separate obligation to the European Commission.”
Accord Healthcare, a subsidiary of India’s Intas, recently picked up the generics portfolio in a deal worth about $767 million.
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