The EU Commission accepts the commitment offered by a pharmaceutical company to reduce drug prices by 73% (Aspen)

“When the price of a drug suddenly goes up by several hundred percent, this is something the Commission may look at” Commissioner Vestager said when opening a formal investigation into Aspen’s alleged excessive pricing conduct in May 2017. On 10 February 2021, the EU Commission (Commission) closed the investigation by accepting legally binding commitments offered by Aspen which remove its concerns over excessive pricing. Under these commitments: Aspen agreed to reduce its prices across Europe for each of the drugs involved by an average of 73%, thereby reducing the prices to below 2012 levels, when it acquired the drugs and gradually started to increase their prices; Aspen will not be permitted to increase its prices for a 10 year period (with the exception of a possible review after

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Authors

  • Herbert Smith Freehills (Brussels)
  • Herbert Smith Freehills (London)
  • Herbert Smith Freehills (London)
  • Herbert Smith Freehills (Brussels)

Quotation

Kyriakos Fountoukakos, Max Kaufman, Kristien Geeurickx, Agathe Célarié, The EU Commission accepts the commitment offered by a pharmaceutical company to reduce drug prices by 73% (Aspen), 10 February 2021, e-Competitions February 2021, Art. N° 99565

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