And. . . huge surprise (not!) -- those efforts to (allegedly) restrain lawful price competition occured under Fred, Cary, Tom, Tom and Brent's stellar "leadership" -- at pre-merger Schering-Plough. Ugh.
Here's the relevant bit, from Capital.gr -- but do go read it all:
. . . .France's competition authority Thursday fined Schering-Plough, [now] a unit of U.S. drug giant Merck & Co., 15.3 million euros ($20.94 million), for allegedly attempting to block generic competition for its narcotic addiction treatment, Subutex.
The authority said in a statement that Schering-Plough, colluded with its supplier, the consumer-products maker Reckitt Benckiser Group PLC to elbow out of the market Arrow Group's generic version of Subutex. . . .
The actual financial amount of the fine is not remotely material, but the black eye (reputation damage) in Europe -- of being seen as a bully, and a price gouger, is (once again) disappointing. The $21 million is also -- as irony would have it -- about what Fred paid himself, per year, while at Schering-Plough, all in.
To my experienced eye, it is just more of the Fast Fred Hassan legacy, and a sad one, at that. [Ed. Note: