UK CMA Fines Pfizer and Flynn Pharma £70M in Epilepsy Drug Pricing Case

The United Kingdom’s Competition and Markets Authority (CMA) has issued a preliminary judgment fining Pfizer and Flynn Pharma £70 million for abusing their status as the UK’s only suppliers of the epilepsy drug phenytoin. Pfizer and Flynn jacked up the prices of the life-saving drug between 780% and 2,600%, a move deemed by the courts as anti-competitive and exploitative. Pfizer will pay £63 million and Flynn will pay £6.7 million.

According to Phil Taylor, “The financial penalty which the CMA has imposed on Flynn represents 10% of Flynn’s worldwide turnover, which is the statutory maximum that the CMA can impose for an infringement of competition law.”

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(Source: InvesBrain, July 22nd, 2022)