Public CompanyLupin, Matrix to face European Comm anti-trust probe
The European Commission today said it will initiate an anti-trust probe of as many as six pharmaceutical companies including Indian entities -- Lupin and Matrix Laboratories -- for restrictive business practices and abusing dominant market positions.
- Lupin buys worldwide rights for nasal spray AllerNaze - Matrix assigns its right to buy Astrix stake to Mylan unit - 27 companies invest Rs 1,866 crore in MP - Q4 nos, stake hike plan fail to boost Lupin - Lupin net profit up 64% to Rs 157 crore - Lupin to raise stake in Australian firm to increase market presence
The probe would also cover a wholly-owned subsidiary of India"s Unichem Laboratories, Niche Generics, which is based both in the UK and Ireland.
The planned investigation of the Commission, which is the executive arm of the European Union, would be mainly related to the six companies" role in possibly hindering the entry of a generic version of perindopril, a cardio-vascular medicine.
In a statement today, the Commission said it has decided to open a formal anti-trust investigation against France-based Les Laboratories Servier, Lupin, Matrix Laboratories, Israeli firm Teva Pharmaceuticals, Niche Generics and Slovenia"s Krka.
The probe of Servier will be for suspected breaches of the rules on restrictive business practices and abusing a dominant market position.
"The decision concerns... Generic companies including Krka d.D., Lupin, Matrix Laboratories (a subsidiary of Mylan Inc), Niche Generics and Teva UK / Teva Pharmaceutical Industries, as regards a number of individual, possibly restrictive, agreements between each of them and Servie," the statement noted.