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Sunday, November 30, 2008

Big Pharma Sitting On Cheaper Drugs

Neelie Kroes, the European Commissioner for Competition, concluded her 10-month investigation into the pharmaceutical industry by concluding it "does not work as well as it should" and had cost 17 member states €3bn (£2.5bn) between 2000 and 2007 by limiting the availability of cheaper generic drugs.
Ms Kroes – whose inquiry began in January with raids at some of Europe's largest drugs companies, including GlaxoSmithKline in the UK – warned that the EC may now launch anti-trust proceedings against individual companies.

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