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news.The European Union (EU) is expected to penalize nine companies, including Denmark-based Lundbeck and Indian firm Ranbaxy for halting generic medicines from entering into the market and violating competition laws.
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Other companies scheduled to be fined include Merck, Arrow, Generics UK, Resolution Chemicals, Alpharma, A.L. Industrier and Xellia.
Without disclosing the exact amount of fine imposed, sources close to the matter were quoted by Reuters as saying, "The fine for Lundbeck is expected to be significant, less so for the others."
The fine is part of an investigation, which was launched by the EU in 2009, into ‘pay for delay’ arrangements made in the pharmaceutical industry.
In Western countries, generic drugs are available at a lesser cost when compared to the price of original medicines.
Such deals between brand-name drug companies and generic manufacturers have resulted in consumers paying more than 20% for medicines, according to an estimate by the European regulators.