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State Commission For Protection Of Economic Competition Rejects Admi

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  • State Commission For Protection Of Economic Competition Rejects Admi

    STATE COMMISSION FOR PROTECTION OF ECONOMIC COMPETITION REJECTS ADMINISTRATIVE COMPLAINT OF ARGO PHARM COMPANY

    Noyan Tapan
    Feb 12, 2010

    YEREVAN, FEBRUARY 12, NOYAN TAPAN. At the February 12 sitting, RA
    State Commission for the Protection of Economic Competition examined
    the administrative complaint of Argo Pharm company.

    Argo Pharm was one of the seven companies fined for an anti-competitive
    agreement in drug market. In September-October 2009, these companies
    raised groundlessly the prices of antiviral drugs as well as drugs
    for treatment of cardiovascular diseases and pancreatic diabetes. By
    the December 21 decision of the commission, each of these companies
    was fined in the amount of 2% of its proceeds in the previous year
    (the total amount of fines made over 450 million drams).

    According to the commission's spokeswoman Armine Udumian, the facts
    indicated in Argo Pharm's complaint requesting partial cancellation of
    the commission decision were considered as unfounded and the complaint
    was rejected. The decision remained in force.
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