U.K.'s Raid of Concordia in Drug Probe Was Lawful, Judge Rules

Canadian drug company Concordia International Corp. lost a U.K. court fight to invalidate a raid by British antitrust watchdogs who were hunting for evidence of an industry plot to over-price hydrocortisone pills.

The Competition and Markets Authority didn’t have to disclose to Concordia sensitive information that served as justification for the search, Judge Eleanor King said in her ruling at the Court of Appeal in London on Tuesday.

The CMA conducted its raid in October 2017 as part of an investigation into whether Concordia had “an explicit, but informal” market sharing arrangement with Actavis U.K. over the supply of hydrocortisone. ...