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The European Commission accepts commitments by Aspen to reduce prices for six off-patent cancer medicines

The European Commission has accepted commitments by Aspen to reduce the price of six critical, off-patent, cancer medicines by 73% on average, and to ensure their continued supply for a period of 10 years.

Aspen was investigated for potential excessive pricing practices in relation to six off-patent cancer medicines.  After acquiring the medicines from another company, Aspen started in 2012 to progressively increase its prices, up to few hundred times, in all countries in Europe where it sold the medicines. Since the medicines have been off-patent for 50 years, which means that any R&D investment on the medicines has long been recouped, the European Commission considered that there were no legitimate reasons for Aspen's very high profit levels.

The commitments proposed by Aspen were formally accepted by the European Commission after Aspen had amended its initial proposal following the outcome of the market test. 

The official press release of the European Commission can be found here

Antitrust: Commission accepts commitments by Aspen to reduce prices for six off-patent cancer medicines by 73% addressing excessive pricing concerns

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pharmaceuticals, europe, competition, pricing

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