Massive fines for pharmaceutical companies from the Competition Authority

The investigation launched by the Competition Board into GlaxoSmithKline İlaçları Sanayi ve Ticaret AŞ and Abdi İbrahim İlaç Sanayi ve Ticaret AŞ has concluded with administrative fines imposed following settlement agreements reached with the two companies.

In a statement published on the Competition Authority's website, information was provided regarding the investigation conducted by the Competition Board into the two pharmaceutical firms.

Accordingly, based on the settlement texts submitted by the enterprises in accordance with the Board's interim decisions, it was decided to impose an administrative fine of 33 million 321 thousand 564 liras on GlaxoSmithKline İlaçları Sanayi ve Ticaret AŞ and 184 million 363 thousand 976 liras on Abdi İbrahim İlaç Sanayi ve Ticaret AŞ for violating the Law on the Protection of Competition.

The investigation into the two firms was initiated based on allegations that they had entered into "gentlemen's agreements" with competitors in the labor market not to hire each other's employees, and that they were engaged in agreements or concerted practices through the exchange of sensitive information in competition between rivals.

News Source: AA