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Court of Appeal upholds CMA's £99m pharma pricing fines in full

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Published on: 09 May 2025

Published by LNB News

LNB News 09/05/2025

Document Information

Issue Date: 09 May 2025

Published Date: 09 May 2025

Jurisdiction(s): England, Northern Ireland, Scotland and Wales

Article summary

The Court of Appeal has unanimously upheld the Competition and Markets Authority's (CMA) finding that Advanz broke competition law through excessive pricing of liothyronine tablets to the NHS between 2009-2017. The court reinstated the CMA's original £51.9m fine on private equity firm Cinven, which the Competition Appeal Tribunal had reduced to £37.1m in 2023. The total fines now stand at £99m, divided between Advanz (£40.9m), Cinven (£51.9m), and HgCapital (£6.2m). The ruling follows a three-day hearing in December 2024, where the court found no arguable basis to challenge the CMA's findings.

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