Japanese Generic Drug Maker Fined for Price Cartel

Society Lifestyle Politics

Tokyo, June 4 (Jiji Press)--Japan's Fair Trade Commission on Tuesday ordered generic drug maker Koa Isei Co. to pay a fine of 1.37 million yen for its involvement in a price-fixing cartel for a prescription drug in violation of the antimonopoly law.

The company based in the northeastern Japan city of Yamagata was also ordered to take measures to prevent similar wrongdoing.

It is the first time that a generic drug maker has been punished in violation of the law.

According to the antitrust watchdog, Koa Isei and Tokyo-based Nippon Chemiphar Co. <4539>, which jointly obtained approval for making the drug to treat hyperphosphatemia in kidney disease patients, confirmed between June and August 2018 that they would not sell the medicine at low prices.

Koa Isei agreed to set its wholesale prices of the drug at levels suggested by Nippon Chemiphar.

[Copyright The Jiji Press, Ltd.]

Jiji Press