SEC Filing: AstraZeneca - Losec/Prilosec (omeprazole) European Commission case
( February 7, 2011, 11:29 GMT | Official Statement) -- MLex Summary: AstraZeneca has announced in a filing to investors that the European Commission counter-appealed a court ruling that confirmed it had abused its market position concerning the drug Losec, but which withdrew Norway and Denmark from the scope of the decision.Extract:
Losec/Prilosec (omeprazole)
European Commission case
As previously disclosed, in July 2010, the General Court of the European Union (the General Court) handed down its judgment in AstraZeneca’s appeal against the European Commission’s 2005 Decision fining AstraZeneca €60 million for abuse of a dominant position regarding omeprazole. The General Court upheld most of the European Commission’s arguments but reduced the fine to €52.5 million as it said that the European Commission’s case had not been proven in relation to Denmark and Norway. The fine was paid in 2005 in accordance with the original Decision and €7.5m plus interest has been repaid to AstraZeneca. AstraZeneca was ordered to pay 90% of the European Commission’s costs, and the European Commission was ordered to pay 10% of AstraZeneca’s costs....
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