Chilean High Court Backs $40M Pharmacy Price-Fixing Fines

Law360, New York (September 10, 2012, 5:55 PM EDT) -- Chile's highest court upheld price-fixing fines worth about $40 million against two of the country's largest pharmacy chains Friday, ruling that the record-setting penalties were appropriate given the severity of the companies' conduct.

The Chilean Supreme Court unanimously affirmed a January decision from the country's competition court imposing fines of 20,000 annual tax units, worth about $20 million, apiece on Farmacias Cruz Verde SA and Farmacias Salcobrand for conspiring with a third chain to hike rates on roughly 200 drugs from late 2007 through early 2008....
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