News Summary: EU fines pharma firms over generics
EU fines Lundbeck, other pharma firms over delay in entry of generic antidepressant
FINE FOR DELAY: The European Union has fined Danish pharmaceuticals multinational Lundbeck and several other producers a combined 146 million euros ($195 million) for delaying the market entry of cheaper generic alternatives to a major antidepressant.
THE BIG FINE: EU Antitrust Commissioner Joaquin Almunia said Wednesday that Lundbeck alone was fined 93.8 million euros ($125.6 million) for anti-competitive behavior, charging it agreed with several companies to delay the entry of generic versions of its antidepressant citalopram.
THE REACTION: Lundbeck immediately announced it would appeal the fine and insisted it did not unduly restrict competition.
