EC investigating Aspen Pharma alleged 'price gouging' for cancer meds
South African drugmaker Aspen Pharma (JSE: APN) has confirmed that the European Commission has opened proceedings to investigate certain actions of Aspen Holdings and some of its European subsidiaries.
According to the Commission, Aspen Pharma has engaged in excessive pricing concerning five life-saving cancer medicines. The Commission will investigate whether Aspen has abused a dominant market position in breach of EU antitrust rules.
A report by the UK’s Times newspaper suggests that the company faces fines of £220 million ($284 million).
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