Pfizer is sued for Viagra price fixing!
Men who have complained about the current prices of Viagra tablets were awakened recently to the news that pharmaceutical companies in charge of the production of the three most common anti-impotence tablets, Viagra, Levitra and Cialis are being fined $5.7 million for the fixing of the prices of Viagra tablets.
The prices of Viagra tablets—made by the pharmaceutical company Pfizer, as well as the other two currently do not have any fixed prices. Consequently, pharmacies are able to set the prices which they want, a fact which has resulted in a various available price offers. For instance, it has become widely accepted that it is easier to buy Viagra pills online at a more affordable price.
However not everyone is happy with the wide variance in prices and attempts—as the court ruling shows—have been made to offer some measure of control to it. According to the Swiss Competition commission, the companies, Pfizer, Bater and Eli Lilly made “inadmissible agreements to maintain a recommended public selling price of a drug”. The charges were made more than 4 years ago and an investigation towards this end has been maintained since then.
Despite the defense of the accused companies claiming their innocence the commission ruled against them and levied a punitive fine.
The stated amount is the bulk total figure that is expected to be paid all three companies. No mention was made as to how much each of the individual companies would be expected to pay. However, it is more than likely that this will be divided in proportion to the sales of each of the member companies.
If this is indeed the case, then Pfizer, which sells more than 3million Viagra tablet every year and accounts for over 50% of the present market, can be expected to pay the large fine.
As can be expected, the current ruling does not seat well with the affected companies. Pfizer in particular has hinted that it will not be simply accepting the decision of the SCC.
In a press ruling, Pfizer announced that the ruling of the SCC would not “survive a court examination”. This is taken by many to mean that the pharmaceutical companies are pondering appealing the decision.
Other companies—Eli Lilly, in stating their claims for injustice, announced that their pricing of their anti-impotence pills have been fully in compliance with Swiss Competition Law. None of the three companies indicated a willingness to pay the fine but instead insisted on further seeking legal appeals.
This stance is hardly surprising because the notion that the prices of anti-impotence tablets are secretly being fixed could result in wide spread negativity amongst the public.
The SCC’s attention was attracted when in a fixed period it discovered that the prices of the anti-impotence drugs offered by all three companies suddenly rose drastically at the same time.
Viagra tablets are made out of the chemical compound Sildenafil Citrate. Released in 1998, they are the first anti impotence pill to be released. Viagra tablets are widely recognized and approved by all the world’s major health bodies.
They are offered in doses of 25mg, 50mg and a 100mg. Viagra tablets are not aphrodisiac in effect and cannot be used for the treatment of any sexually transmitted disease.
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