The Federal Anti-Monopoly Service accused Danish pharmaceutical company Novo Nordisk of violating anti-monopoly legislation on Friday and said the firm might face a fine of up to 15 percent of its Russian revenue.
The watchdog said Novo Nordisk, the world's largest producer of diabetes drugs, refused to sign supply contracts with some drug distributors, restricting competition on the pharmaceutical market.
“The violation was in the company's unjustified avoidance and refusal to sign agreements with some buyers and discriminating against some potential partners in favor of existing ones, which has led to limited competition,” the Federal Anti-Monopoly Service said in a statement on its web site.
The statement also said the anti-monopoly service would send Novo Nordisk an order to stop violating the law. The service began a probe into the company's activities in July.
Under Russian law, a company that "occupies a dominant position" on a market is not allowed to refuse, without cause, to sign a contract with a partner, said Yevgenia Borzilo, head of the anti-monopoly group at law firm Goltsblat BLP.
Monday, September 27, 2010
Danish Drugmaker Faces Hefty Fine | Business | The Moscow Times
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment