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19/04/2013
OFT Accuse GSK Of 'Market Abuse'
The Office of Fair Trading (OFT) has accused pharmaceutical giant GlaxoSmithKline (GSK) of market "abuse".
It is alleged that GSK paid rivals to delay releasing their own versions of its product, Seroxat.
The OFT claim that Alpharma, Generics UK and Norton Healthcare all received money not to enter the market with their copies of Seroxat.
However, GSK responded to the accusation saying "acted within the law".
A statement from the company read: "In fact, these arrangements actually resulted in generic versions of paroxetine entering the market before GSK's patents had expired.”
Adding that "the OFT investigation covers matters that have already been investigated by the European Commission in 2005-2006".
"In March 2012 the Commission announced that it had formally concluded its enquiry with no further action," it said.
"The issues were also reviewed in the European Commission's 2008-2009 Sector Inquiry. Neither investigation resulted in any sanctions against the company."
(H/CD)
It is alleged that GSK paid rivals to delay releasing their own versions of its product, Seroxat.
The OFT claim that Alpharma, Generics UK and Norton Healthcare all received money not to enter the market with their copies of Seroxat.
However, GSK responded to the accusation saying "acted within the law".
A statement from the company read: "In fact, these arrangements actually resulted in generic versions of paroxetine entering the market before GSK's patents had expired.”
Adding that "the OFT investigation covers matters that have already been investigated by the European Commission in 2005-2006".
"In March 2012 the Commission announced that it had formally concluded its enquiry with no further action," it said.
"The issues were also reviewed in the European Commission's 2008-2009 Sector Inquiry. Neither investigation resulted in any sanctions against the company."
(H/CD)
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