Italy's ICA imposes a 5 million-euro fine on Aspen after 1,500% hike in cancer drug prices

The Italian Competition Authority (ICA) has imposed a fine of more than 5 million euros ($5.5 million) on South Africa-based drugmaker Aspen Pharmacare for infringing article 102a of the Treaty on the Functioning of the European Union.

According to the ICA, the company had fixed unfair prices with increases up to 1,500% for life-saving and irreplaceable drugs in the treatment of oncohematological patients, especially children and elderly people.

After purchasing the antitumor drug package from GlaxoSmithKline – the patents for which expired decades ago - Aspen started negotiations with the Italian Medicines Agency (Agenzia Italiana del Farmaco - AIFA) with the sole aim to obtain a high increase in prices, even in the absence of any necessary economic justifications.