EU fines pharma firms over generics delay

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Associated Press

Posted on June 19, 2013 at 6:05 AM

Updated Wednesday, Jun 19 at 6:06 AM

BRUSSELS (AP) — The European Union says it has fined Danish pharmaceuticals multinational Lundbeck and several other producers a combined 146 million euros ($195 million) for delaying the market entry of cheaper generic alternatives to a major antidepressant to capitalize profit at the expense of patients.

EU Antitrust Commissioner Joaquin Almunia said Wednesday that Lundbeck alone was fined 93.8 million euros ($125.6 million) for anti-competitive behavior, charging it agreed with several companies to delay the entry of generic versions of its antidepressant citalopram.

Lundbeck immediately announced it would appeal the fine and insisted it did not unduly restrict competition.

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