Adcock Ingram fined for collusion
BREAKING NEWS: Adcock Ingram, owned by Tiger Brands, has been hit with a a R53-million fine for its involvement in fixing the price of medicine, reports IOL. The judgement was handed down by the Competition Commission today, Friday 9 May 2007.
In a statement, the Commission said that Adcock Ingram Critical Care admitted to its involvement and agreed to a fine on 8% of its turnover. This amounts to R53,502,800.00 - said to be the highest penalty for collusive behaviour in local history.
For more:
IOL: 'Colluding' hospital supplier hit
Health24.com: Adcock admits to collusion
Bloomberg.com: Tiger Brands' Adcock Ingram to Pay Price Fixing Fine