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8 Dec 2016

Pfizer refutes the findings set out in the CMA decision

Pharma giant says it complied with established competition law.

In response to being slapped with a record-breaking fine of £84.2 million for an overnight price increase (2600%) for an anti-epilepsy drug, Pfizer says it rejects the Competition and Markets Authority's (CMA) decision.

Pfizer has released the following statement:

"Pfizer refutes the findings set out in the Competition and Markets Authority (CMA) decision. In this transaction, and in all of our business operations, we approached this divestment with integrity, and believe it fully complies with established competition law.

"Phenytoin capsules were a loss making product for Pfizer and the Flynn transaction represented an opportunity to secure ongoing supply of an important medicine for patients with epilepsy, while maintaining continuity of manufacture. When Flynn launched its product, the company set a price that was between 25 and 40% less than the price of the equivalent medicine from another supplier to the NHS which had long been regulated, and appeared to be acceptable to, the Department of Health.

"Against that background, Pfizer believes the CMA's findings are wrong in fact and law and will be appealing all aspects of the Decision.

"The ruling highlights real policy and legal issues concerning the respective roles of both the Department of Health and the CMA, in regulating the price of pharmaceutical products in the UK. Pfizer will seek clarity on these issues as part of the appeal process.

"For many decades, Pfizer has been an important partner to the UK’s health, academic and scientific institutions, and is proud to supply and partner with the NHS. Our purpose is to develop therapies which significantly improve patients’ lives. Pfizer is a responsible, global business, committed to operating to the highest standards."

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