Mexico Fines Lilly, Others $12M For Price Collusion

Law360, New York (February 23, 2010, 6:48 PM EST) -- Mexico's Federal Competition Commission has smacked six pharmaceutical companies, including a unit of Eli Lilly & Co., with fines totaling 150.5 million pesos ($11.7 million) for allegedly colluding to drive up the price of medicines they sold to the Mexican social security agency IMSS.

The board of the Federal Competition Commission, or CFC for its initials in Spanish, voted 4-1 Tuesday to impose the maximum allowable fine under the country's antitrust law.

One Lilly unit, and Laboratorios Cryopharma, Probiomed and Pisa Farmaceutica Mexicana were fined 21.5...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.