EU fines Lundbeck, 8 others for generic-delay payments

06/19/2013 | Reuters

Nine drug firms have been given fines by the EU, including Denmark's Lundbeck, Germany's Merck and India's Ranbaxy, totaling $195 million for payments to delay the release of lower-priced generic versions of brand-name drugs, or "pay for delay" schemes. "Agreements of this type directly harm patients and national health systems, which are already under tight budgetary constraints," said EU Competition Commissioner Joaquin Almunia. Lundbeck and Ranbaxy have said they will appeal.

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