Jubilant Life Sciences, a key supplier of radiology medicines in the U.S., is being investigated by U.S. antitrust regulators over its business practices, according to a recent regulatory filing.
The probe began in 2017 after several nuclear pharmacies expressed concerns that a Jubilant subsidiary forced them into unfavorable contracts. And this past February, regulators sought information from Jubilant about its acquisition of a chain of more than 59 pharmacies around the U.S., which independent operators complained would pose an unfair competitive threat.
Upon re-reading the linked story I noticed what I had failed to observe here: “During a May 2014 conference call, however, Rajagopal Sankaraiah, the Jubilant chief financial officer, told investors these were “not just mere price hikes.” This has been 4 full years in the making – and they 100% of the market even then. How did that happen without any authority observing the change?
There have been several alternate solutions that radiopharmacies across the country have tried to put into place and Jubilant has gone as far as contacting the FDA and threatening lawsuits against several radiopharmacies due to possible negative impacts on their own market share. The quote about being more than just price hikes – being in an enviable place in the market – is no excuse for 1800% price hikes! It’s more ammunition for anti-trust investigations!! It literally defines the problem for this particular situation.
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