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Advanz fined by UK CMA over thyroid-drug price hikes

( July 29, 2021, 06:33 GMT | Official Statement) -- MLex Summary: Pharmaceutical company Advanz and private equity firms HgCapital and Cinven have been fined over 100 million pounds by the UK Competition and Markets Authority for breaching competition law by inflating the price of liothyronine tablets, used to treat thyroid-hormone deficiency. The CMA found following an investigation that from 2009 until 2017 Advanz charged excessive and unfair prices for liothyronine tablets, increasing the overall price by more than 6,000 percent. They achieved this because liothyronine tablets were among a number of drugs that, although genericized, faced limited or no competition. Private equity firms HgCapital and Cinven were previously owners of the businesses now forming part of Advanz.The statement follows:...

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