27 September 2023, 2:03 pm 1 minute
Reuters exclusively reported that US medical device maker Edwards Lifesciences, a global leader in its field, was the target of an EU antitrust raid a week ago on concerns that it may have abuse its market power. Shares in Edwards Lifesciences shed 2.5% in pre-market trade on the Reuters story. The company, which can face fines up to 10% of its global turnover if found guilty of breaching EU antitrust rules and an order to change its business practices, subsequently confirmed that it had been raided.
The move underscores increasing regulatory scrutiny on both sides of the Atlantic of the pharmaceutical industry to ensure that companies continue to innovate and offer products and services at affordable prices without being squeezed out by bigger rivals.
Topics of Interest: Health
Type: Reuters Best
Sectors: Pharmaceuticals & Healthcare
Win Types: Exclusivity
Story Types: Exclusive / Scoop
Media Types: Text
Customer Impact: Important Regional Story