Fine of 10 million AMD imposed on Kuratsio Company

The State Commission for the Protection of Economic Competition today imposed a fine of 10 million AMD on Kuratsio pharmaceutical sales company for unfair competition and banned the company from participating in state procurement tenders for three years.

According to the commission chairman Artak Shaboyan, Baby Sim drug importing company informed the commission that a rival company – Kuratsio was hindering their activities by not allowing them to participate in tenders to supply drugs. The matter concerns enteral (tube) feeding tenders.

The commission conducted studies which show that in all the cases when Kuratsio was the only supplier in state procurement tenders, it always submitted a very high price bid, whereas in cases when the company had a rival, it sold drugs at almost cost prices. Kuratsio artificially prevented its rival companies from entering the market.

Artak Shaboyan said that Kuratsio has never reduced drug prices in Armenia even when the price of a drug fell by 80% in international market.