The fine levelled on GSK today is the largest since the Competition and Markets Authority's inception in 2014. (Reuters Image)
Britain's competition authority has fined drug maker GlaxoSmithKline plc 37.6 million pounds ($54.5 million) for stalling the potential entry of generic competitors of an anti-depressant drug Seroxat into the marketplace.
The fine levelled today is the largest since the Competition and Markets Authority's inception in 2014.
The authority fined the pharmaceutical company for making payments and other transfers of more than 50 million pounds to generic suppliers of the drug, also known as paroxetine. The authority says that GSK first sued generic drugmakers Generics (UK) Limited and Alpharma Limited, but later settled, paying for them to delay their entry into the market.
The generic companies were also fined. In all, the authorities leveled 45 million pounds in fines connected to the matter.
GSK disagrees with the decision and may appeal.
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