HG, Cinven Slam UK’s ‘Quasi-Criminal’ £100 Million Pricing Fine

Hg Capital LLP, Cinven and Advanz Pharma’s£100 million ($107 million) UK fine for excessive drug overcharging has been called “manifestly wrong” at a London court.

The pharmaceutical firm and its two former private equity owners kicked off an appeal against the Competition and Markets Authority’s July 2021 finding on Tuesday. The antitrust agency found that prices of liothyronine tablets, used to treat thyroid issues, were raised by more than 6,000% from 2009 to 2017 as they faced no competition.

Lawyers for Cinven said the decision was “manifestly wrong” and was an “enormous quasi-criminal penalty,” according to documents prepared ...