Update 14:15 Zurich, Switzerland (GenevaLunch) – Three pharmaceutical companies, Pfizer, Eli Lilly & Co. and Bayer AG have been fined CHF5.7 million in total for price fixing, linked to their over-the-counter erectile functioning drugs Viagra, Cialis and Levitra. Bayer Switzerland promptly reacted, saying that it has not participated in price-fixing and has respected Swiss law. According to Dow Jones/CNN Money, the company is considering taking legal action against the decision.
The Swiss competition commissioner levied the fines saying the fixing was done using public price recommendations, which have been illegal in Switzerland since 2000.
Rome, Italy (TSR, Fre) – The Italian competition commission has ruled against 26 companies in a price-fixing case and is fining them €12.5 million, reports wire service Swiss TXT.
Bern, Switzerland (GenevaLunch) – Comco, the Swiss Competition Commission, has agreed to look into the price discussions held by Ascopa, the main cosmetics and perfume industry association, whose members include Chanel SA Geneva, Clarins SA, L’Oréal Produits de Luxe Suisse SA, Parfums Christian Dior AG and Coty (Schweiz) AG.
A complaint was filed about price discussions held within the association and Comco will now investigate to see if the discussions have resulted in price-fixing.
