EU pharma industry braces for harsh competition report

An upcoming report from the EU's competition commissioner based on a long-running probe into pharma companies' business practices is expected to slam many of the world's leading pharma companies for slowing the introduction of inexpensive generics. And the Financial Times reports that a number of the Big Pharma companies on the continent are preparing for further investigations into their business practices regarding generic drugs.

"I'm absolutely certain that in the next few months the commission will launch two or three company specific cases," one executive told the FT.

Officials raided the offices of a dozen top pharma companies earlier this year, including AstraZeneca, GlaxoSmithKline, Pfizer and Sanofi-Aventis. And they followed up with in-depth queries. According to lawyers involved, the officials have been particularly focused on patent deals between pharma companies and generic companies that could involve pacts to stay out of particular drug markets.

- read the report from the Financial Times