Italian Competition Authority Closes Unfair Pricing Proceedings Against Pharmaceutical company Aspen

• 09/07/2018
• Articles

The Italian Competition Authority (“Autorità Garante della Concorrenza e del Mercato”) (“ICA”) announced on 5 July 2018 that it had closed proceedings against Aspen of South Africa, following an earlier decision which had found Aspen to be in breach of Article 102 Treaty on the Functioning of the European Union on account of the application of unfair prices for four oncology products. At the time, the ICA meted out a fine of EUR 5.2 million.
 
According to the new announcement, Aspen has now lowered its prices retroactively with reductions that fall in a range between 29% and 82%. The ICA noted that the new prices were the result of long negotiations with the Italian health authorities (“Agenzia Italiana del Farmaco” – “AIFA”) and are in line with the regulatory framework. Interestingly, Aspen’s earlier prices that were judged to be abusive by the ICA had also followed negotiations with the health authorities. 
 
A parallel European Commission proceeding, which covers the prices applied by Aspen in the other Member States, is still pending.