Pfizer and Flynn fined combined £70 million for 'exploiting dominant positions to charge the NHS excessive prices'
US pharma giant Pfizer (NYSE: PFE) has been told to pay £63 million ($75 million) and its UK distributor Flynn Pharma £6.7 million in the latest development in a long-running price gouging dispute.
The fines follow an in-depth investigation carried out by the UK’s Competition and Markets Authority (CMA), which found that Pfizer and Flynn charged unfairly high prices for phenytoin sodium capsules for more than four years, ultimately paid for by the taxpayer-funded National Health Service (NHS).
These firms de-branded the drug, previously known as Epanutin, meaning it was no longer subject to price regulation and the companies could set prices at their discretion.
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