Ibnsina Pharma lays out its case to appeal antitrust case

Ibnsina Pharma lays out case in appeal of antitrust case: Ibnsina Pharma has filed documents countering antitrust allegations leveled against the company by the Egyptian Competition Authority (ECA), said company Chairman Mohsin Mahgoub. A Cairo Economic Court had found in March that Ibnsina, along with competitors United Co. for Pharmacists, Ramco Pharm and Multipharma, had colluded to cut credit periods and slash discounts to small and medium sized pharmacies, fining the companies a total of EGP 5.6 bn. Mahgoub said the ruling was excessive considering how the court failed to hear from experts. The Cairo Court of Appeals is expected to rule on the case on 16 July.