Swiss Fine Drug Firms $5.7M for Price-Fixing
From Associated Press (December 1, 2009)
BERN, Switzerland--The Swiss branches of Pfizer Inc., Eli Lilly & Co. and Bayer AG were fined a total of 5.7 million francs ($5.7 million) by competition regulators on Tuesday for alleged price fixing of drugs for erectile dysfunction.
The Swiss Competition Commission said the prices of Viagra, Cialis and Levitra were fixed in the form of public price recommendations.
It didn’t say how much each company was fined, and a competition spokesman declined to provide the information.
The three companies rejected the allegation.
"We are surprised by the decision and we believe the public price recommendation for Cialis was in full compliance with Swiss competition law," said Petra Streit, an Eli Lilly spokeswoman.
Bayer was examining how it could challenge the fine, according to a statement.
"We’re of the opinion that this decision will not survive
a court examination," Pfizer added.
Posted: December 2009
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