Britain Fines Steroid Makers 260 Million Pounds

Britain’s competition regulator has fined more than 10 drug firms a record combined 260 million pounds ($360 million) for overcharging the National Health Service (NHS) for a steroid which rose from 70p to 88 pounds a pack in under eight years.

https://www. reuters .com/world/uk/britain-fines-drugmakers-360-million-overcharging-nhs-2021-07-15/

It’s important to note that this story goes all the way back to 2011. (Maybe even as far back as 2008).

The Competition and Markets Authority found that Waymade and Auden Mckenzie had entered into anticompetitive agreements in relation to the supply of hydrocortisone to the NHS. Auden Mckenzie paid Waymade to stay out of the market between 2011 and 2015 while it increased the price from around £46 to £90 for a pack of 30 20 mg tablets.

https://en. wikipedia .org/wiki/Vijay_Patel_(businessman)

These are the companies that were mentioned by the news.

Waymade PLC – Vijay Patel. Indian English businessman. Born on 1950 in Kenya.

https://en. wikipedia .org/wiki/Vijay_Patel_(businessman)

Accord Healthcare – Previously known as Actavis UK and Auden Mckenzie.

Allergan – formerly an Accord Healthcare parent company.

https://www. marketwatch .com/story/accord-healthcare-to-appeal-uk-watchdog-fine-for-collusion-overcharging-update-271626347053

Actavis Genetics – Formerly known as Watson Pharmaceuticals and Actavis PLC.

In August 2016, Actavis sold its generic line of products to Teva Pharmaceuticals.

Founded by Allen Chao. Allen Y. Chao is a Taiwanese-American businessman who founded Watson Pharmaceuticals and served as chief executive officer from 1984 to 2008 and chairman.

In December 2016, the company was accused of breaking competition law by “charging excessive and unfair prices” by the Competition and Markets Authority.

https://en. wikipedia. org/wiki/Allen_Chao,_Ph.D.

https://en .wikipedia .org/wiki/Actavis

Allergan – Acquired by Actavis PLC in 2015.

In August 2016, Allergan sold its generic line of drugs to Teva Pharmaceuticals.

Acquired by AbbVie Inc in May of 2020.

Brent Saunders was the CEO of the combined company. Brent Saunders was born in Arizona on Feb 6, 1970.

https://en .wikipedia .org/wiki/Brenton_L._Saunders

https://en .wikipedia .org/wiki/Allergan

Abbvie Inc – An American publicly traded biopharmaceutical company.

CEO – Richard Gonzalez.

He didn’t have a Master’s from the U of Miami in the same disciple as they claimed

Gonzalez had actually attended the University of Houston and he did major in biochemistry, even though he didn’t earn his degree

https:// moneyinc .com/abbvie-ceo-richard-gonzalez/

https://en. wikipedia. org/wiki/AbbVie

Intas Biopharmaceuticals – Intas Pharmaceuticals limited is an Indian company headquartered in Ahmedabad, India. Created by Urmush Chudgar and is presently headed by Hasmukh Chudgar.

In 2017, Intas acquired ActavisUK and Actavis Ireland from Teva Pharmaceuticals.

https://en. wikipedia .org/wiki/Intas_Biopharmaceuticals

Teva Pharmaceuticals – An Israeli company that the CMA ignored.

Teva Pharmaceuticals, is a global pharmaceutical company with headquarters in Petah Tikva, Israel. It specializes primarily in generic drugs.

The company is a member of the Pharmaceutical Research and Manufacturers of America (PhRMA)

CEO – 2011 Schlomo Yanai. 2012 Jeremy Levin. 2014 Erez Vigodman. 2017 Yitzhak Peterburg. 2020 Kare Schultz.

Teva Pharmaceuticals still owned Actavis + Allergan by the time the CMA started investigating in December of 2016.

From 2011 and on, Teva Pharmaceuticals underwent a series of divestments.

-Sold assets to Par Pharmaceuticals

-Sold assets to Dr. Reddy Laboratories, India.

-Sold assets to Zydus Cadilla, India.

-Sold assets to Cipla, India.

-Sold Actavis to Intas, India.

-Sold assets to Mayne Pharmaceuticals, Australia.

-Sold assets to CVC Capital Partners Fund. Multinational. Based in London.

-Sold assets to Amneal Pharmaceutical, US.

-Sold assets to Foundation Consumer Healthcare. Pittsburgh, US.

-Sold assets to Cooper Companies. California, US.

Proof that Palestinians are the native inhabitants of Israel.

Teva Pharmaceutical Industries was founded by Günther Friedländer and his aunt Else Kober on May 1, 1935

Friedländer was a German pharmacist, botanist and pharmacognosist, who immigrated to Mandatory Palestine in 1934, following the Nazi Party Rise to power.