Aspen Pharmacare, five of the world’s major drug companies, is facing a possible £220m ($283m) fine after the European Commission yesterday began a formal investigation into the firm’s price increases on cancer medicines. The investigation, which is the first by the commission into excessive drug pricing, is considering accusations that Aspen “imposed very significant and unjustified price increases” on one medicines. Last month, The Times revealed that Aspen increased the costs of busulfan by 1,200% and chlorambucil by 400% after purchasing the rights to the drugs from Glaxosmithkline.
Aspen Pharmacare, one of the world’s major drug companies, is facing a possible £220m ($283m) fine after the European Commission yesterday began a formal investigation into the firm’s price increases on cancer medicines. The investigation, which is the first by the commission into excessive drug pricing, is considering accusations that Aspen “imposed very significant and unjustified price increases” on five medicines. Last month, The Times revealed that Aspen increased the costs of busulfan by 1,200% and chlorambucil by 400% after purchasing the rights to the drugs from Glaxosmithkline.