
UK Court Upholds Watchdog's Finding on Excessive NHS Thyroid Drug Prices
(Reuters) -The Court of Appeal has upheld a British watchdog's 99 million pound ($131.94 million) fine against owners of Advanz Pharma for overcharging the National Health Service for essential thyroid drug liothyronine, the watchdog said on Thursday.
"In a unanimous judgment, the Court of Appeal has confirmed the Competition and Markets Authority's (CMA) finding of excessive and unfair pricing in the supply of liothyronine tablets in the UK," the CMA said.
($1 = 0.7504 pounds)
(Reporting by DhanushVignesh Babu in Bengaluru; Editing by Arun Koyyur)
Reuters Health Information © 2025 Reuters Ltd.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
19 minutes ago
- Yahoo
Thames Water bonds plunge to record low as nationalisation threat grows
Thames Water's bonds have crashed to a record low after the Environment Secretary said it was stepping up contingency plans for the struggling utility giant. The price of Thames Water's debt fell to as low as 67p on Friday, down from 70p at the start of the month, as investors took flight amid fears the Government could nationalise the business. The market reaction was prompted largely by comments from Steve Reed last Thursday, who said that ministers were preparing to put Thames Water into a taxpayer-backed special administration regime. He said: 'The company remains financially stable, but we've stepped up our preparations and stand ready for all eventualities, as I've said before, including a special administration regime if that were to become necessary.' Falling bond prices signal that investors are also now bracing for the nationalisation of Thames Water, which remains on the brink despite a £17bn rescue proposal put forward by more than 100 of its most senior lenders. Talks are still ongoing over the potential bailout, although uncertainty is mounting after Mr Reed suggested the Government will not waive fines for Thames Water, which is one of the creditors' key demands. Pressures have also intensified after US private equity giant, KKR, unexpectedly abandoned its bid for the business earlier this month. Analysis of Thames Water's finances shows that a £250m bond due to mature in 2034 has been one of the hardest hit by the sell-off. Now valued at 67p, this is down from more than 80p two years ago. Falling bond prices in Britain's biggest water company will be a source of concern for the Government, which is seeking to attract global infrastructure investors as part of its bid to boost growth. Utilities are often deemed a safe haven by funds, therefore, the prospect of lenders incurring steep losses on Thames will be likely to damage investor appetite. There are huge numbers of creditors currently exposed to Thames Water, which has racked up a £16bn debt pile over the past decade, including a raft of different bonds. A special administration regime (SAR) would wipe out the bulk of Thames Water's borrowings, although it would also leave the Government forced to foot the bill for its running costs. A previous report estimated that an SAR could cost the taxpayer up to £4.1bn, piling further strain on the Government's stretched balance sheet. A report from JP Morgan last week said: 'Putting Thames into a SAR would be costly for the government and weaken its already tight fiscal position. 'Also, if Thames Water were nationalised, the Government would inherit all of the company's operational issues and be on the hook for any underperformance.' As well as billions of pounds in running costs, the creditors have calculated that Thames faces more than £1bn in fines and penalties over the coming years. However, despite the financial threat posed to investors and taxpayers, there are growing calls for the Government to nationalise Thames Water. Professor Dieter Helm, an economist and former government adviser, said last week that 'special administration will in the end most likely be necessary, and before 2029'. 'The Government and Ofwat made a major mistake at the outset in not calling in a special administrator,' he said. 'The leading bondholders have little practice experience in running a utility like Thames, and none has previous experience of a long-term major turnaround. 'They will no doubt have opportunities to take the money and run. All of this is likely before the next election, something that the Government should have in mind.' Thames Water was contacted for comment. Broaden your horizons with award-winning British journalism. Try The Telegraph free for 1 month with unlimited access to our award-winning website, exclusive app, money-saving offers and more. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
Bayern Munich add Arsenal's Gabriel Martinelli to transfer target list
Christian Falk reports that Bundesliga champions Bayern Munich have added Arsenal's Gabriel Martinelli to their list of summer transfer targets. Incoming transfer rumors relating to the German giants continue to come thick and fast. FCB chief personnel officer Max Eberl and staff are clearly working overtime at the Säbener Straße headquarters. Arsenal's 18-times-capped Brazilian international fits the profile of what Bayern seek during the current summer transfer window. Namely, a winger with a proven performance record and a price tag in the €50m-€70m range. Martinelli maintains a current €55m estimated market value. Advertisement Bayern require assistance on both flanks ahead of the new Bundesliga campaign, but seem to be prioritizing players with leftward proclivities first. The Martinelli rumors make sense in the context of this need. Thanks to their early qualification for the Round-of-16 in the ongoing club World Cup, Bayern have already earned the equivalent of €39.5 million in the new mega-format tournament. It is such that one expects the German record champions to seal some blockbuster summer signings in the coming days. GGFN | Peter Weis

Associated Press
an hour ago
- Associated Press
Spain reaches deal with NATO ahead of summit to be excluded from 5% defense spending goal
MADRID (AP) — Spain reached a deal with NATO to be excluded from a 5% of GDP defense spending target, days before the military alliance's leaders will gather at a summit, Prime Minister Pedro Sánchez said on Sunday. 'Spain will, therefore, not spend 5% of its GDP on defense, but its participation, weight and legitimacy in NATO remain intact,' Sánchez said in a televised address. Sánchez said that Spain would be able to keep its commitments to the 32-nation military alliance by spending 2.1% of GDP on defense needs. In letters exchanged on Sunday between NATO Secretary-General Mark Rutte and Sánchez, Spain was granted the exemption and the language around the 5% spending target was made to no longer include 'all allies,' Sánchez said. On Thursday, Sánchez told Rutte in a separate letter that Spain could not commit to the spending target. The move threatened to derail the upcoming summit at The Hague, which U.S. President Donald Trump is due to attend, since any new spending guidelines have to made with the consensus of all 32 NATO member states. Last year, Spain spent 1.28% per NATO estimates on military expenditure, making it the alliance's lowest spender. In April, Sánchez announced that the government would raise defense spending to 2% this year, a move that he received pushback for at home including from some allies. On Friday, Trump said Spain 'has to pay what everybody else has to pay,' calling the eurozone's fourth-largest economy 'a very low payer.' 'They were either good negotiators or they weren't doing the right thing,' Trump told reporters. On Sunday, Sánchez said Spain 'believes that Europe should take charge of its own defense, an idea aligned with opinions such as those expressed by President Trump.' But he called reaching a 5% spending target 'incompatible with our worldview.'