Financial Services Industry
Industry: Email Alert RSS FeedAstraZeneca.
Financial News, May, 2001
Byline: Daily Mail
Anglo-Swedish drugs giant AstraZeneca has been caught up in a massive anti-competition probe by the US authorities. It has been forced to hand over sensitive documents concerning its blockbuster ulcer treatment Prilosec, the world's largest selling drug worth 40% of its sales.
Up to 100 companies have been targeted by the powerful Federal Trade Commission. It aims to discover whether firms such as AstraZeneca have attempted to block the sale of cheaper generic drugs. Competition authorities in Europe will await the outcome of the FTC action with close interest.
President Bush has been alarmed at the rocketing cost of US healthcare and is pressing for cheaper copycat versions of prescription drugs to be made more easily...
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