Aspen confirms R45m fine by UK competition authorities

Aspen Phamacare said on Thursday the Competition and Markets Authority of the UK had confirmed its decision to impose a fine of about £2.1m (R45m) on the group.

Aspen had said in August it had reached a settlement and admitted liability for entering into an agreement to acquire a potential competitor, which relates to the supply of fludrocortisone in the UK.

Under that agreement, the £2.1m fine is the maximum penalty that could be imposed.

Aspen said on Thursday this brought the matter to a close.

In morning trade, the group’s share was down 1.5% to R146.98, on track for its worst one-day performance in about two weeks. — BusinessLIVE