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Court of Appeal upholds CMA thyroid pricing decision; reinstates Cinven fine; CJEU clarifies VBER exclusivity; Commission reviews merger guidelines; EU FDI screening; State aid access to justice reforms

Published on: 15 May 2025

Published by a LexisNexis Competition expert
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UK antitrust

Court of Appeal denies permission to appeal from the CAT’s judgment affirming the CMA’s finding of excessive and unfair pricing for an NHS thyroid medicine; restores the CMA’s original fine in full

The Court of Appeal handed down its judgment in Cinven Capital Management (V) General Partner Ltd & Ors v CMA, a challenge to the CAT’s ruling of 8 August 2023 that upheld the CMA’s decision identifying breaches of the Chapter II prohibition in the Competition Act 1998 concerning the supply of liothyronine tablets (a vital medicine used to treat thyroid hormone deficiency).

CMA’s 2021 decision

On 29 July 2021, the CMA adopted an infringement decision concluding that Advanz Pharma abused a dominant position by imposing excessive and unfair charges for liothyronine tablets (the CMA’s 2021 decision). The CMA levied penalties totalling more than £101.4m, including, among others, £40.9m on Advanz Pharma and £51.9m on Cinven. The CMA also determined that between 2007 and 2017 Advanz was the sole supplier of 20mcg liothyronine sodium tablets in the UK...

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