1 minute read
Fine stays for drug firms that hiked prices
by cityam
AUGUST GRAHAM
THE COMPANIES behind a drug whose price was hiked from £20 to £248 per pack in just eight years will be fined a combined £84m after a tribunal upheld the competition watchdog’s decision.
The Competition Appeal Tribunal yesterday endorsed “all the main elements” of the Competition and Markets Authority’s (CMA) decision. However, it reduced the overall fine for the three businesses from around £101m.
The CMA said that the price of a packet of liothyronine tablets had increased by more than 12-fold between 2009 and 2017.
The only supplier of the tablets, used to treat thyroid hormone deficiency, was Advanz.
a 30 per cent year-on-year reduction in overall queue times.
The new tech enabled it to become the first major UK airport to scrap the 100ml limit rule on liquids carried through security.
Advanz is currently owned by Advanz Pharma, but previous owners Cinven and HgCapital also share in the fine.
Advanz Pharma will pay £40.9m, Cinven £37.1m and Hg £6.2m, the tribunal decided. Cinven declined to comment, Advanz Pharma and Hg have been contacted.
The average time it takes to conduct security checks is now a zippy three minutes and 45 seconds, down from seven minutes in 2022. PA
