Competition Agency impose most fines on the pharmaceutical sector

15:28, 11.04.2024

In 2023, the Competition and Consumer Protection Agency imposed fines totalling GEL 58,419,983 on companies following investigations, as detailed in the agency’s annual report.

The most of this amount, GEL 53 million, came from fines imposed on pharmaceutical companies.

The report highlights that the agency closed eight investigation cases during the year, including three instances of concerted action in the pharmacy, fuel, and online ticketing markets.

Regarding the pharmaceutical market, the agency fined four companies for engaging in anti-competitive actions related to the state oncology drug program between 2021 and 2023.

In the case of the oil companies, the investigation focused on maintaining high prices in the motor fuel market between March and August 2022 through coordinated behaviour. Regarding the online sale of cinema tickets, the agency uncovered agreements restricting competition and abuse of dominant positions.

By - Tamar Tabatadze

Society

Competition Agency

pharmaceutical sector