The Competition and Markets Authority reportedly fined Pfizer (NYSE:PFE) and Flynn Pharma a record amount for the companies’ massive price hikes to its unbranded versions of the anti-epilepsy drug, Epanutin. The British competition watchdog fined Pfizer and Flynn Pharma $107 million (£84.2 million) and $6.5 million (£5.2 million), respectively.
New York City-based Pfizer used to market the anti-epilepsy treatment as the branded drug Epanutin. The company sold the rights to Flynn in September 2012 and Flynn debranded the drug, removing it from the scrutiny of price regulation, and hiked the price of the phenytoin sodium capsules as much as 2,600% to a peak of £67.50 – about $85.16 in today’s dollars – before dropping to £54.00 ($68.11 today).
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