Aspen’s drug pricing faces EU, UK probes | Business Day

Aspen Pharmaceuticals’ failure to disclose its 2016 €5.2m Italian competition authorities fine for price gouging has backfired.

The story made headlines in the UK and on social media.

With speculation now mounting that British and European authorities will launch their own investigations into the price-gouging allegations, local shareholders are querying why the company has never issued a statement on the fine, which had been handed down in October 2016.

The Times report, which is part of an investigation into drug pricing, detailed how Aspen began a Europe-wide effort to drive up the price of five cancer medicines after buying the rights from GlaxoSmithKline.

“The price rises meant that the cost of busulfan, used by leukaemia patients, rose from £5.20 to £65.22 a pack in England and Wales during 2013, an increase of more than 1,100%. The price of chlorambucil, also used to treat blood cancer, rose from £8.36 to £40.51 a pack in the same year.”

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Aspen’s drug pricing faces EU, UK probes.