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...
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