Morning:
6°c
The European Commission today launched a major crackdown on the pharmaceuticals industry, warning that it intends to "intensify its scrutiny" of Big Pharma in a bid to bring cheaper generic drugs on to the market more quickly.
After an 18-month investigation, anti-trust investigators identified 200 agreements between generic and big-brand drugmakers, and condemned the industry for engaging in "defensive patenting strategies" to block generic versions of its blockbuster drugs.
The EC counted the cost of the behaviour at �3 billion (£2.6 billion).
It said a Europe-wide patent to bring drugs to market faster by negating the need for national-level approvals is a top priority.
In a sign of the force of the EC's intent, it also singled out individual firms for anti-trust probing.
After raiding several drugmakers' headquarters, including British giants GlaxoSmithKline and AstraZeneca, its first investigation focuses on France's Servier, which is suspected of paying firms to delay a cheaper version of one of its heart drug.
Generic companies including Israel's Teva and several Indian firms are also under investigation.
Reader views (1)
Shows you Big Pharma puts profits, first, second and third.
Your health comes fourth. Maybe.
- Fred, London, 08/07/2009 10:41
Report abuse
