Below cost pricing?
According to reports in Friday’s Australian FinancialRreview, (Hannah Low, page 32), the ACCC has sought to widen its claim against Pfizer.
We previously reported (see also here) that the ACCC had brought proceedings against Pfizer alleging that it had misused its market power and engaged in exclusive dealing in the lead up to patent expiry to protect sales of its market leading drug Lipitor and to promote its own generic version of the drug.
It appears that the ACCC has sought to amend its claim, shortly before the matter is due to be heard, to include an allegation that Pfizer sold its product below cost price, or at least forecast cost price, contrary to the Australian Competition & Consumer Act. The AFR reports Pfizer as saying that it will vigorously defend the allegation.
It is not clear whether the ACCC will be permitted to make the amendment or whether the amendment will mean that the hearing currently scheduled to start in October will be deferred.
A directions hearing scheduled for 3 September 2014 has been deferred to the following week.
– By Kim O’Connell