Share

EU to probe pharmaceutical industry

Brussels - The European Commission announced new surprise inspections in the pharmaceutical sector on Friday amid suspicions companies are colluding to block the development of cheaper generic drugs.

"Commission officials carried out unannounced inspections at the premises of a limited number of companies active in the pharmaceutical sector in several member states," the commission said of the spot-checks on Tuesday.

"The commission has reason to believe that the companies concerned may have acted individually or jointly, notably to delay generic entry for a particular medicine.

"If confirmed, this could be a potential violation of EU antitrust rules that prohibit restrictive business practices and/or the abuse of a dominant market position."

European citizens spend hundreds of euros on medicine each year, with the market worth hundreds of billions of euros at retail prices, according to commission data.

The relationship between companies that patent their products as brand-named medicine, as well as their ties with generic drug producers, has been a focus for commission inspectors over recent years.

Generic drugs are cheaper and save patients and insurance firms money without compromising on effectiveness.

But some companies have in the past been accused of using patent filings to stop generic medicines hitting the market, or tying up potential competitors for years in legal disputes.

In the worst example uncovered, 1 300 separate patent filings were made for a single medicine across the 27-nation EU.

We live in a world where facts and fiction get blurred
Who we choose to trust can have a profound impact on our lives. Join thousands of devoted South Africans who look to News24 to bring them news they can trust every day. As we celebrate 25 years, become a News24 subscriber as we strive to keep you informed, inspired and empowered.
Join News24 today
heading
description
username
Show Comments ()
Rand - Dollar
18.99
+0.1%
Rand - Pound
23.68
+0.0%
Rand - Euro
20.28
+0.1%
Rand - Aus dollar
12.25
-0.1%
Rand - Yen
0.12
+0.1%
Platinum
948.50
-0.5%
Palladium
1,035.00
0.0%
Gold
2,375.14
+0.6%
Silver
28.40
+0.6%
Brent Crude
87.29
-3.1%
Top 40
66,899
0.0%
All Share
72,995
-0.0%
Resource 10
63,378
+2.8%
Industrial 25
97,824
-0.5%
Financial 15
15,384
-1.7%
All JSE data delayed by at least 15 minutes Iress logo
Company Snapshot
Editorial feedback and complaints

Contact the public editor with feedback for our journalists, complaints, queries or suggestions about articles on News24.

LEARN MORE
Government tenders

Find public sector tender opportunities in South Africa here.

Government tenders
This portal provides access to information on all tenders made by all public sector organisations in all spheres of government.
Browse tenders