November 22, 2001 |
The European Union levied a record $752-million fine against eight chemical and pharmaceutical companies for fixing vitamin prices. The EU executive commission said the firms had been under investigation since 1999 for colluding to eliminate fair competition in vitamin pills and overcharging consumers. The highest fine--$406 million--was for F. Hoffmann-La Roche of Switzerland, which the EU identified as the "prime mover and main beneficiary" of the cartel arrangements.
September 10, 1999 |
Three Japanese companies have agreed to plead guilty and pay $137 million in fines for taking part in a worldwide conspiracy to control the prices of vitamins, the U.S. Justice Department said. "This conspiracy artificially inflated the cost to virtually every American of such everyday necessities as milk, bread, orange juice and cereal, which were fortified with vitamins produced by these companies," said Joel Klein, assistant attorney general in charge of antitrust activities.
September 1, 2000 |
Irvine eye-care company Allergan Inc. has filed a federal lawsuit against a pharmaceutical company, alleging the company has infringed on Allergan's rights under a license to use another firm's patent. Santen Pharmaceutical Co. said in a press release Thursday that it will "vigorously" defend itself and its subsidiary, Santen Inc., against Allergan's claims.
April 23, 2002 |
Roche's U.S. unit and five other vitamin makers will pay $19.6 million to settle Massachusetts consumers' lawsuits that claim the companies conspired to fix vitamin prices for a decade. Hoffmann-La Roche Inc., BASF Corp., Aventis Animal Nutrition, and Japan's Eisai Co., Daiichi Pharmaceutical Co., and Takeda Chemical Industries Ltd. agreed to settle the claims after Massachusetts' highest court ruled state consumer-protection laws could be used to press what amounts to price-fixing claims.
September 24, 1993 |
During a year of bad publicity and grim budget cuts--and perhaps because of it--donors gave a record $472.3 million to the University of California in the year ending June 30, university officials reported Thursday. UC Irvine, up 13% this year, accounted for part of the jump. Donations to that campus totaled $24.9 million, compared to $21.9 million the year before.
November 4, 1999 |
Seven leading vitamin makers based in Europe and Japan agreed Wednesday to pay a record $1.18 billion to settle allegations that they engaged in a years-long conspiracy to fix prices, inflating the cost of everything from dietary supplements to fortified cereals. Attorneys for the food producers and farming interests who sued the companies said that the agreement marks the biggest class-action antitrust settlement in U.S. history, surpassing a $1.