Competition watchdog aiming for out-of-court settlement of EGP 5.6 bn fine for pharma distributors?
Competition watchdog aiming for out-of-court settlement with pharma distributors? The Egyptian Competition Authority (ECA) is reportedly looking to reach an out-of-court settlement with four pharma companies it slapped with EGP 5.6 bn in fines for alleged anti-competitive behaviour, judicial sources said. The ECA successfully brought a case against players including Ibnsina, Ramco, Multipharma, and United Company for Distribution and Trade on allegations they colluded to cut credit periods and slash discounts to small pharmacies. At the request of the ECA, the Cairo Economic Court postponed to 19 December an appeal hearing originally scheduled for this week to give the parties time to reach a settlement, the sources claim.