On 18th September 2023, the Competition Appeal Tribunal handed down judgment in Allergan PLC & Ors V The Competition and Markets Authority concerning a CMA Decision on findings of excessive and unfair pricing of hydrocortisone tablets. The judgment is available here. The CAT upheld the finding of excessive and unfair prices by the Appellants (and largely upheld the penalties imposed on them), but quashed numerous findings and approaches taken by the CMA in its Decision (in particular, for example, its approach to market definition).
Mark Brealey KC (instructed by Morgan, Lewis & Bockius UK LLP) appeared for the Advanz Appellants.
Josh Holmes KC, Nikolaus Grubeck, Michael Armitage and Daisy Mackersie (instructed by the legal department of the Competition and Markets Authority) appeared for the Competition and Markets Authority.