STATE COMMISSION FOR PROTECTION OF ECONOMIC COMPETITION REJECTS ADMINISTRATIVE COMPLAINT OF ARGO PHARM COMPANY

Noyan Tapan
Feb 12, 2010

YEREVAN, FEBRUARY 12, NOYAN TAPAN. At the February 12 sitting, RA
State Commission for the Protection of Economic Competition examined
the administrative complaint of Argo Pharm company.

Argo Pharm was one of the seven companies fined for an anti-competitive
agreement in drug market. In September-October 2009, these companies
raised groundlessly the prices of antiviral drugs as well as drugs
for treatment of cardiovascular diseases and pancreatic diabetes. By
the December 21 decision of the commission, each of these companies
was fined in the amount of 2% of its proceeds in the previous year
(the total amount of fines made over 450 million drams).

According to the commission’s spokeswoman Armine Udumian, the facts
indicated in Argo Pharm’s complaint requesting partial cancellation of
the commission decision were considered as unfounded and the complaint
was rejected. The decision remained in force.