World News

European Pharmaceuticals Fined $195 Million

European Union anti-trust regulators have fined a Danish pharmaceutical company and a group of generic drugmakers for colluding to delay bringing to market the generic form of a popular anti-depressant.

Denmark's Lundbeck was fined $125 million, while the generic drug producers were fined $70 million.

Lundbeck was accused of paying the other companies to delay delivery of a generic version of Lundbeck's anti-depressant medicine citalopram.

Generic drugs usually cost a fraction of the original medicine.

EU Competition Commissioner Joaquin Almunia said pay-to-delay agreements "directly harm patients and national health systems which are already under tight budgetary constraints." He said the commission will not tolerate "anticompetitive practices."

Lundbeck says it intends to appeal the decision.

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