Cleary Gottlieb partners Nicholas Levy, Paul Gilbert, and Jackie Holland and associate Courtney Olden co-authored the “UK” chapter of the
Unfair Play: UK CMA Fines Pharmaceutical Companies for Excessive Prices
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.
Illumina/Grail: General Court Upholds EC’s Merger Referral Policy, Expanding EC Jurisdiction Over Non-reportable Transactions
In a significant judgment rendered on July 13, 2022 (“Judgment”), the EU’s General Court validated the position taken by the European Commission (“EC”) in a March 2021 Guidance Paper encouraging national competition authorities (“NCAs”) to use Article 22 of the EU Merger Regulation (“EUMR”) to refer transactions to the EC that do not meet national merger control thresholds, but which they believe may threaten to significantly affect competition within the EU.
EU Regulation on Distortive Foreign Subsidies Set for Adoption
On 30 June 2022, the EU institutions reached political agreement on a new regulation which will allow the European Commission to control non-EU government subsidies given to businesses active in the EU (the “Regulation”).
The French Competition Authority publishes its annual report for 2021: a record year in terms of number of merger control decisions
On July 6, the French Competition Authority (“FCA”) published its annual report for the year 2021.[1] In particular, the report highlights (i) the key figures of the FCA activity in 2021, (ii) the reinforced investigative powers of the FCA and (iii) the roadmap for 2022-2023.
Vestager 2: What’s Going on in EU Antitrust Enforcement
In her second term as EU Competition Commissioner, Margrethe Vestager’s focus to date has been on securing approval for the
Commission Opens a Formal Investigation Into Vifor Pharma for Alleged Disparagement Practices
On June 20, 2022, the Commission opened a formal investigation into Vifor Pharma for the possible anticompetitive disparagement of a rival’s iron medicine.[1] Although the Commission launched a disparagement investigation last year,[2] this is the first time that it opens an investigation based exclusively on a disparagement theory of harm, and in relation to two originator products at that.[3]
European Commission To Phase-Out COVID-19 Temporary Framework
On May 12, 2022, the Commission announced that it will phase out the Temporary Framework for State aid measures to support the economy in the current COVID-19 outbreak.
ICA fines Leadiant for abusing its dominant position in the Italian market for the life-saving drugs used to treat a rare disease
On May 17, 2022, the Italian Competition Authority (the “ICA”) imposed a fine of €3,501,020 on Leadiant Biosciences Ltd. and Essetfin S.p.A. (jointly “Leadiant”) for violating Article 102 TFEU by charging excessive prices for the sale to the Italian National Health System (the Sistema Sanitario Nazionale or “SSN”) of a drug used for the treatment of Cerebrotendinous xanthomatosis (“CTX”), a rare condition that affects the human body’s ability to metabolize cholesterols.[1]