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It's been six weeks since He Jun, a Hong Kong-listed company, shuttered two of its biggest factories in China - suddenly and without any warning, former workers say. They were among the latest and largest factory closures in China's battered low-end industries: toy manufacturers, textile companies and...
The pharmaceutical industry is one of the few sectors around that appears to be weathering these difficult times with relative ease. On Friday the European Commission suggested why that might be: it claims Big Pharma systematically rigged the market to squeeze out copycat medicines.
The damning indictment was part of a 400-page, interim Commission report based on evidence collected during January raids at the headquarters to some of the world's biggest drug companies, including U.S. companies Pfizer and Johnson & Johnson, Britain's GlaxoSmithKline, Anglo-Swedish giant AstraZeneca, and Sanofi-Aventis of France...
The Commission won't complete its investigation until next spring, but Kroes is already threatening firm action against drug companies that conspire to thwart European competition rules.
The drug giants use various measures to hold up the release of cheaper copies of their brand-name drugs when patents expire, the Commission said. The most common tactic allegedly involves filing multiple patent applications for the same medicine - so-called patent clusters - that stake out an extremely broad claim...