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Investing.com -- The European Commission has fined drugmaker Alchem International and its Hong Kong subsidiary a total of 489,000 euros ($576,000) for participating in a pharmaceutical cartel, EU antitrust regulators announced Friday.
The fine comes after an investigation revealed that Alchem illegally coordinated prices and allocated quotas for more than 12 years, according to EU antitrust chief Teresa Ribera.
"Our investigation showed that Alchem, the only producer who chose not to settle, illegally coordinated prices and allocated quotas for more than 12 years," Ribera said in a statement.
This action follows earlier penalties imposed in 2023, when the European Commission fined Alkaloids of Australia, Alkaloids Corp, Boehringer, Linnea and Transo-Pharm a combined 13.4 million euros.
These companies admitted to fixing the minimum price of an ingredient used to produce the abdominal antispasmodic drug Buscopan and its generic versions.
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