[Ip-health] Lilly Is Fined By Mexico For Collusion

[Joana Ramos]

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 From Pharmalot today:

http://www.pharmalot.com/2010/02/lilly-is-fined-by-mexico-for-collusion/

By Ed Silverman // February 24th, 2010 // 7:46 am

Mexico=92s antitrust watchdog fined Lilly and three Mexican drugmakers for
colluding to inflate prices in government tenders for medicine. The
drugmakers allegedly took turns placing winning bids to buy insulin from
2003 to 2006, eliminating competition and ensuring artificially high
prices, Reuters writes. A Lilly spokeswoman denied the charges and plans
to appeal.

=93The companies that have been fined conspired for years to make badly
needed medicine artificially expensive,=94 commission head Eduardo
Perez-Motta said in a statement. The drugmakers, as well as unit of
Baxter International, were each fined $1.7 million, the maximum allowed
prior to 2006, when Mexico=92s competition laws were beefed up, Reuters add=
s.

Separately, the US Department of Justice and the Securities and Exchange
Commission expanded a probe into Lilly=92s compliance with the Foreign
Corrupt Practices Act, which prohibits bribery of foreign officials. The
SEC notified Lilly in 2003 it was investigating whether overseas units
of various drugmakers in Poland violated the law; the probe is now
focusing on other countries (see page 15 of this SEC filing). Recently,
the head of the Justice Department=92s Criminal Division warned drugmakers
there will be more criminal enforcement against interactions with
foreign officials (see here).

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Joana Ramos, MSW
Cancer Resources & Advocacy
Seattle WA USA
+1-206-229-2420
http://ramoslink.info/
www.bmtbasics.org
http://healthwatched.org
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