UK Appeals Court Rules in Pfizer’s Favor
Pharmaceutical giant Pfizer won its appeal of the UK’s Competition and Markets Authority decision in a case over a massive price hike of its anti-epileptic drug Epanutin (phenytoin sodium) in 2016.
The UK authority ruled in late 2016 that Pfizer had charged the National Health Service unfair amounts for its product, ordering the company to lower the price and imposing fines that amounted to almost £90 million ($120.4 million).
The appeals court found the CMA’s conclusions on Pfizer’s abuse of dominance to eliminate or deter competitors were incorrect. The court ruled that the authority did not use the correct legal test for finding unfair drug prices, did not determine the product’s correct economic value and did not account for comparable products.