Global biopharmaceutical group AstraZeneca (AZ) has lost an appeal over a 52.5m euro fine relating to the way that its subsidiaries AstraZeneca AB and AstraZeneca Plc marketed an ulcer-treating drug.
The case, which dates back to 2005 and has been subject to two appeals, surrounds the way that the group made representations to the patent offices of certain Members states.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The Court announced on Thursday that it had rejected the arguments advanced by the two companies owned by AstraZeneca. It concluded that the General Court was fully entitled to hold that AstraZeneca's conduct was in breach of competition on the merits and therefore counted as an abuse of a dominant position.
A spokesperson at AstraZeneca commented to ShareCast: "AZ is disappointed with the Court of Justice's decision that AZ's appeal should be dismissed. AZ takes compliance with all laws seriously and has a fundamental commitment to doing business in an ethical and proper manner."
AstraZeneca's share price was unchanged at 12:02 on Thursday.
MF
-
Average pension pot by region – how do your retirement savings compare?Making sufficient savings for retirement is critical to ensure you can enjoy your later years without too many financial worries, but new data suggests some are saving far more than others. We look at the average pension pot by region.
-
Could colour diamonds add a sparkle to your portfolio?Diamonds of various shades never go out of fashion, says Chris Carter
