The Competition and Markets Authority (CMA) has provisionally found that pharmaceutical company Concordia abused its dominant position to overcharge the NHS by millions for an essential thyroid drug, liothyronine. It found that last year, the NHS spent more than £34 million on the drug, an increase from around £600,000 in 2006.
CMA Chief Executive, Andrea Coscelli, said: “Pharmaceutical companies which abuse their position and overcharge for drugs are forcing the NHS – and the UK taxpayer – to pay over the odds for important medical treatments…At this stage in the investigation, our findings are provisional and there has been no definitive decision that there has been a breach of competition law. We will carefully consider any representations from the companies before deciding whether the law has in fact been broken.”
This is one of a number of cases being investigated by the CMA in the pharmaceutical sector in relation to excessive and unfair prices. While a number of recent fines are currently under appeal, the CMA is pursuing a further seven investigations into several companies in relation to drug pricing and competition issues, which can all be viewed on the CMA’s case pages.