2 Firms Raided for Alleged Hypertension Drug Price Cartel

Society

Tokyo, July 23 (Jiji Press)--Japan's Fair Trade Commission on Tuesday conducted on-site inspections of two drug makers on suspicion of forming a price cartel for a medicine to treat high blood pressure.

The two are Nippon Chemiphar Co. <4539> and Torii Pharmaceutical Co. <4551>, both based in Tokyo.

Informed sources said the two allegedly inflated wholesale prices of Calvan tablets for medical institutions at least for years.

In Japan, the government set the prices of prescription drugs. The official prices are revised every two years, based on surveys of the delivery prices of the drugs distributed to medical institutions.

The two companies are believed to have fixed the wholesale prices of the Calvan tablets in an attempt to prevent price falls.

[Copyright The Jiji Press, Ltd.]

Jiji Press