EU Court upholds 40 mn euro fine on Lupin over Perindopril litigation

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EU Court upholds 40 mn euro fine on Lupin over Perindopril litigation

Drug maker Lupin said a court in Europe has upheld a decision to impose a fine of 40 million euros (over Rs 325 crore) on the company by European Commission (EC) in a litigation over blood pressure lowering drug Perindopril.

The Mumbai-based company said the General Court of the European Union has delivered its judgment concerning Lupin’s and other companies appeal against the EC 2014 decision in the Perindopril litigation.

“The General Court upheld the EC’s decision holding Lupin liable to pay a fine of euro 40 million,” the company said in a regulatory filing.

The company added that it will study the court’s judgment and evaluate further course of action.

In 2014, Lupin and Unichem Laboratories are among six global drug makers on which the European regulator had imposed a collective fine of 427.7 million euros for striking deals to prevent entry of cheaper version of blood pressure drug Perindopril in the EU.

Shares of the company ended 1.62 percent down at Rs 821.85 on the BSE.

Images are for reference only.Images gathered automatic from google.All rights on the images are with their original owners.

2018-12-14 12:10:43

Images are for reference only.Images gathered automatic from google.All rights on the images are with their original owners.

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