Poland watchdog fines Neuca 499 million zlotys for drug pricing cartel
Poland's competition regulator UOKiK fined pharmaceutical wholesaler Neuca 499 million zlotys ($131 million) for participating in a pricing cartel that lasted more than a decade. Neuca shares fell 15.6% on the news. The penalty was part of a total 905 million zloty fine against four wholesalers that shared drug pricing data for over 10 years. Neuca said it disagrees and plans to appeal.
(Adds company statement, updates share performance in bullet points) Sept 21 (Reuters) — Poland's competition regulator UOKiK said on Monday it fined pharmaceutical wholesaler Neuca 499 million zlotys ($131 million) for participating in a pricing cartel that lasted more than a decade, sending its shares sharply lower. The penalty was the largest in a total 905 million zloty fine against four wholesalers that shared drug pricing data for more than 10 years, UOKiK said. The regulator added that the three largest groups controlled more than 70% of Poland's wholesale drug market.
• Neuca said it disagrees entirely with the charges and plans to appeal to Poland's Court of Competition and Consumer Protection. • UOKiK said wholesalers accessed pharmacy purchasing data through loyalty programmes, allowing them to see rivals' prices and terms for individual pharmacies and adjust their own offers. 6%, on track for the highest single-day fall ever. • Polska Grupa Farmaceutyczna avoided any financial penalty by cooperating with investigators under UOKiK's leniency program and providing evidence.
• The decision is not final and companies may appeal to court. com; +48 58 769 66 63;)