EU Fines 8 Firms in Vitamin Price Fixing
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The European Union levied a record $752-million fine against eight chemical and pharmaceutical companies for fixing vitamin prices.
The EU executive commission said the firms had been under investigation since 1999 for colluding to eliminate fair competition in vitamin pills and overcharging consumers.
The highest fine--$406 million--was for F. Hoffmann-La Roche of Switzerland, which the EU identified as the “prime mover and main beneficiary” of the cartel arrangements.
The second largest fine--$260 million--was levied against Germany’s BASF. The EU also fined Aventis (France); Solvay Pharmaceuticals (Netherlands); Merck (Germany) and Daiichi Pharmaceutical Co., Esai Co., and Takeda Chemical Industries Ltd., all of Japan.
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