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CMA wins excessive pricing case

08/08/23

The Competition Appeal Tribunal has today ruled in favour of the Competition and Markets Authority in the liothyronine appeals, brought by appellants from each of the Hg, Cinven, and Advanz Pharma groups.

The Tribunal upheld the CMA’s findings in its 2021 decision that the appellants had abused their dominant position on the market for the sale of drugs used to treat patients with a thyroid hormone deficiency, by charging excessive and unfair prices for those drugs. It dismissed each of the arguments put forward by the appellants on liability.

The Tribunal however reduced the penalties of the Cinven and Hg appellants from £51.9m to £37.1m and from £8.6m to £6.2m respectively.

The judgment is here

David Bailey, Hugo Leith and Jennifer MacLeod represented and were instructed by the CMA.

Daniel Piccinin KC acted for Hg, instructed by Linklaters LLP.

Robert O’Donoghue KC acted for Cinven, instructed by Clifford Chance LLP.