A pharmaceuticals company will have to cut dramatically the price of an epilepsy drug after losing its legal action against the competition watchdog.
Flynn Pharma had previously been fined £5.2 million by the Competition and Markets Authority after the price of phenytoin sodium capsules that it sold rose by 2,600 per cent.
Pfizer, which manufactured the capsules and struck a deal with Flynn prior to the price rise, was fined a record £84.2 million as part of the same CMA decision.
In a hearing last week, Flynn asked the Competition Appeal Tribunal to suspend the CMA’s ruling that it had to decrease the price of the medicine by today because it plans to file an appeal against the watchdog’s decision.
Full Content: The Times
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