In a unanimous judgment, the Court of Appeal of England and Wales (CoA) reaffirmed the Competition and Market Authority’s (CMA) power to require overseas companies with no branches in the UK to produce documents and information when investigating suspected anticompetitive conduct. The CoA considered that not allowing the CMA to obtain information from overseas companies would create a “gaping lacuna” in the CMA’s ability to perform its statutory duties.
The UK Competition Appeal Tribunal (CAT) on 8 August 2022 set aside a £17.9 million fine against price comparison website Compare The Market, criticising the Competition and Markets Authority’s (CMA) legal and evidential assessment of the case. The CAT found that the CMA’s “anecdotal evidence” failed to prove that Compare The Market kept home insurance premiums artificially high by using most favoured nation clauses (MFNs) in its contracts with insurance providers. The CMA has said it is disappointed with the CAT’s ruling and is considering its options, including a potential appeal.
The UK Competition and Markets Authority (CMA) last week fined pharmaceutical companies Pfizer and Flynn £63 million and £6.7 million for engaging in excessive pricing. In the CMA’s view, the companies charged unfairly high prices for Phenytoin capsules, a genericised anti-epilepsy drug, in violation of competition law.