EU court upholds EUR 13.96 mn fine on Unichem Lab

Business News, Nation, (New Delhi), December 13:-Drug firm Unichem Laboratories on Thursday said a Europe court has upheld the decision to impose a fine of EUR 13.96 million (approx Rs 113.50 crore) on the company and its subsidiary by the European Commission (EC) in a litigation over blood pressure lowering drug Perindopril.

“General Court of the European Union has on December 12, 2018, rejected the appeals… and has confirmed the fine of EUR 13.96 million,” Unichem Laboratories said in a regulatory filing.

The company said “it is disappointed and is currently reviewing the detailed judgment. It will take appropriate legal advice on further action, including the possibility of filing of an appeal before the Court of Justice of the European Union”.

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

European Commission had imposed a fine of EUR 13.96 million on Unichem Laboratories and its subsidiary.

Niche Generics and Unichem then appealed the decision of the European Commission before the General Court of the European Union on September 22, 2014.

Niche is a wholly-owned subsidiary of Unichem Laboratories.

The court also upheld a fine of EUR 40 million (over Rs 325 crore) on Lupin.

Shares of Unichem Laboratories were trading 0.55 per cent lower at Rs 191.60 apiece on BSE.

-(NAV, Inputs: Agencies)

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