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Wednesday, 28 September 2016

Four pharma distribution companies referred to Economic Court

The Prosecutor General’s office has referred four pharma distribution companies to the Economic Court for violating competition law, the Egyptian Competition Authority (ECA) said in a statement. In December 2015, the ECA board referred United Co. for Pharmacists, Ibn Sina Pharma, Ramco Pharm, and Multipharma to public prosecution for monopolistic practises after the companies reportedly colluded to fix policy on reducing credit periods, and reducing discounts to small and medium sized pharmacies. The ECA did not allow for reconciliation noting that “the sector directly impacts citizens and the case would not be taken lightly.”

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