Conn AG Proving Seasonal Flu Vaccine Price-Fixing Allegations

Date : 11/02/2009 @ 2:22PM
Source : Dow Jones News
Stock : GlaxoSmithKline PLC (ADS) (GSK)
Quote : 42.28  0.0 (0.00%) @ 1:15PM
<< BackQuote Chart Financials
Free GlaxoSmithKline PLC (ADS) Annual Company Report

 



Conn AG Proving Seasonal Flu Vaccine Price-Fixing Allegations

   By Chad Bray 
   Of DOW JONES NEWSWIRES 
 

NEW YORK -(Dow Jones)- Connecticut Attorney General Richard Blumenthal said Monday that he is probing allegations of price-fixing and preferential treatment in the distribution of the seasonal flu vaccine.

In a statement, Blumenthal said he sent letters to four manufacturers and nine distributors of flu vaccine, seeking information on the prices they're charging, on the rationale they are using to allocate supplies and on what steps can be taken to assure equitable distribution of limited vaccine supplies.

"I am asking vaccine makers and distributors to detail, prices, supply levels and distribution methods and criteria to guard against favoritism and gouging," Blumenthal said. "I will fight to assure no one makes a killing off the seasonal flu vaccine shortage - potentially endangering seniors and the sick - and everyone who needs a shot gets one."

Blumenthal said his office has received complaints of seasonal flu vaccines being offered at many times the normal price, as much as $100 a dose or higher and preferential treatment in distribution to large retailers.

His office also has received complaints that distributors and manufacturers are reneging on price agreements by demanding new, higher prices for already-ordered doses, and distributors are buying back vaccine for resale at inflated prices, Blumenthal said.

The manufacturers include units of GlaxoSmithKline PLC (GSK), Sanofi-Aventis SA (SNY), AstraZeneca PLC (AZN) and CSL Ltd. (CSL.AU).

-By Chad Bray, Dow Jones Newswires; 212-227-2017; chad.bray@dowjones.com

 
 

<< Back


GlaxoSmithKline PLC (ADS) Historical Chart GlaxoSmithKline PLC (ADS) Intraday Chart  
Period


LSE and PLUS quotes are live. NYSE and AMEX quotes are delayed by at least 20 minutes.
All other quotes are delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions :: Contact Us :: Request an Exchange :: Affiliate Scheme
Copyright1999-2009 ADVFN PLC. Copyright and limited reproduction :: Privacy Policy :: Investment Warning :: Advertise with us :: Data accreditations :: Investor Relations :: Press office :: Jobs
ADDITIONAL SERVICES AVAILABLE FROM ADVFN
Upgrade - Click here for more information on ADVFN premium services Money Words - ADVFN Financial Glossary Investor Training ADVFN Financial Bookshop Online Training Academy
31 site:2us 091126 13:15 Stock Message Boards ( 2001 | 2002 | 2003 | 2004 | 2005 | 2006 | 2007 )