Bayer Vital fined by BkartA
29 May 2008 00:00 in Medical Company Financials
Bayer Vital (BV) has accepted a fine by the German Bundeskartellamt (BKartA) for influencing retail prices of non-prescription drugs, its says.
However, in a statement the company underlined that it has accepted the 10.34 million euro penalty in order to avoid a protracted legal case and "does not share the legal position" of the BkartA.
To draw out the matter would have a negative impact upon its business, it added.
BV went on to say that BKartA "believes that it has evidence" that its employees "influenced the retail prices of non-prescription drug products in pharmacies in violation of antitrust law".
"BV respects the law as a matter of principle," its statement continued, adding it had cooperated with the BkartA throughout.
It has also reviewed its marketing policies for over the counter medicines in pharmacies across the board and "made changes where this was appropriate and necessary".
The German company has offices around the world; in the UK it is based in Newbury, Norwich, Widness, Cambridge, Uxbridge and Dublin.
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