{"id":630835,"date":"2018-03-04T04:11:13","date_gmt":"2018-03-04T04:11:13","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/04\/court-accepts-ibnsinas-appeal-in-antitrust-case\/"},"modified":"2018-03-04T04:11:13","modified_gmt":"2018-03-04T04:11:13","slug":"court-accepts-ibnsinas-appeal-in-antitrust-case","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/04\/court-accepts-ibnsinas-appeal-in-antitrust-case\/","title":{"rendered":"Court accepts Ibnsina\u2019s appeal in antitrust case"},"content":{"rendered":"

<\/a> Court accepts Ibnsina\u2019s appeal in antitrust case: <\/strong>The Cairo Court of Appeals has agreed to hear Ibnsina Pharma\u2019s appeal against an Economic Court ruling that fined the company, alongside three other pharma manufacturers, a combined EGP 5.6 bn fine for alleged antitrust violations, Al Borsa reports<\/a>. A Cairo Economic Court on Wednesday had found 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. Some 13 executives from the companies, including United Co. Chairman Hussam Hussein, had been ordered to pay a combined EGP 1.2 bn, according to Akhbar El Youm<\/a> (Al Borsa places the figure at EGP 520 mn).<\/p>\n

The Cairo Economic Court verdict has been set aside pending the appeal<\/strong>, where the first hearing is scheduled for 19 May 2018.<\/p>\n

The Background: <\/strong>The investigation, which the Egyptian Competition Authority (ECA) conducted back in 2015<\/a>, was brought to court by the Prosecutor General in August of last year. The ECA said that the companies\u2019 alleged actions had done harm to pharmacies, shrinking their profit margins and causing reduced supply of meds to the market.<\/p>\n

The Economic Court also found 12 poultry companies guilty of market manipulation and anti-competitive practices<\/strong> as part of an ECA investigation back in 2013, Al Borsa reports<\/a>. The companies, which have been collectively fined EGP 4.5 mn, had been accused by the ECA of conspiring to keep chicken prices artificially low, driving out smaller producers out of the market and restricting future supply. It was reported at the time<\/a> that the companies included Al Daqahliyah Poultry, Cairo Poultry, Al Arabiya for Mother Chicken, and Al Watania Poultry.<\/p>\n","protected":false},"excerpt":{"rendered":"

Court accepts Ibnsina\u2019s appeal in antitrust case: The Cairo Court of Appeals has agreed to hear Ibnsina Pharma\u2019s appeal against an Economic Court ruling that fined the company, alongside three other pharma manufacturers, a combined EGP 5.6 bn fine for alleged antitrust violations, Al Borsa reports. A Cairo Economic Court on Wednesday had found that […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-630835","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"8207e439-3a3c-4f66-b5a1-c391a8b7a137","order":"0","is_powered_by":true,"section_story_id":"b250893e-7eca-4a44-a21c-e09876beff22","story_type":"1","photo_url":"","photo_position":"above","related_issue":[630827],"teaser":"","voice_url":""},"yoast_head":"\nCourt accepts Ibnsina\u2019s appeal in antitrust case - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2018\/03\/04\/court-accepts-ibnsinas-appeal-in-antitrust-case\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Court accepts Ibnsina\u2019s appeal in antitrust case\" \/>\n<meta property=\"og:description\" content=\"Court accepts Ibnsina\u2019s appeal in antitrust case: The Cairo Court of Appeals has agreed to hear Ibnsina Pharma\u2019s appeal against an Economic Court ruling that fined the company, alongside three other pharma manufacturers, a combined EGP 5.6 bn fine for alleged antitrust violations, Al Borsa reports. A Cairo Economic Court on Wednesday had found that […]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2018\/03\/04\/court-accepts-ibnsinas-appeal-in-antitrust-case\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2018-03-04T04:11:13+00:00\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/03\/04\/court-accepts-ibnsinas-appeal-in-antitrust-case\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/03\/04\/court-accepts-ibnsinas-appeal-in-antitrust-case\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Court accepts Ibnsina\u2019s appeal in antitrust case\",\"datePublished\":\"2018-03-04T04:11:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/03\/04\/court-accepts-ibnsinas-appeal-in-antitrust-case\/\"},\"wordCount\":280,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"keywords\":[\"EnterpriseAM\",\"SPEED ROUND\"],\"articleSection\":[\"Speed Round\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2018\/03\/04\/court-accepts-ibnsinas-appeal-in-antitrust-case\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2018\/03\/04\/court-accepts-ibnsinas-appeal-in-antitrust-case\/\",\"name\":\"Court accepts Ibnsina\u2019s appeal in antitrust case - 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His comments followed the Cairo Court of Appeals agreeing to hear Ibnsina\u2019s appeal on a ruling that fined the company, alongside three other pharma manufacturers, a combined EGP 5.6 bn for alleged antitrust\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":601203,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/21\/ibnsina-antitrust-fine-reduced-to-egp-160-mn-from-egp-2-04-bn\/","url_meta":{"origin":630835,"position":1},"title":"Ibnsina antitrust fine reduced to EGP 160 mn from EGP 2.04 bn","author":"enterpriseam admin","date":"21 February 2019","format":false,"excerpt":"DISPUTE WATCH- Ibnsina confirms antitrust fine reduced to EGP 160 mn from EGP 2.04 bn: Ibnsina Pharma confirmed yesterday in an EGX disclosure (pdf) that a Cairo appeals court has reduced to EGP 160 mn an original EGP 2.04 bn antitrust fine handed by the Cairo Economic Court. \u201cIbnsina Pharma\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/2\/710.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":601143,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/02\/20\/cairo-court-reduces-antitrust-fine-against-ibnsina-pharma-execs\/","url_meta":{"origin":630835,"position":2},"title":"Cairo court reduces antitrust fine against Ibnsina Pharma execs","author":"enterpriseam admin","date":"20 February 2019","format":false,"excerpt":"DISPUTE WATCH- Cairo court slashes antitrust fine against Ibnsina Pharma execs: The Cairo Appeals Court issued a ruling yesterday reducing an antitrust fine imposed on executives from Ibnsina Pharma to EGP 160 mn, down from an original EGP 2.04 bn fine handed down by the Cairo Economic Court, a source\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":624865,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/09\/20\/court-pushes-reset-button-on-ibnsina-antitrust-case\/","url_meta":{"origin":630835,"position":3},"title":"Court pushes reset button on Ibnsina antitrust case","author":"enterpriseam admin","date":"20 September 2018","format":false,"excerpt":"Court pushes reset button on Ibsina antitrust case: An Egyptian court decided yesterday to restart legal proceedings on Ibnsina\u2019s appeal of antitrust sanctions in a case brought by the Egyptian Competition Authority. 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A Cairo Economic Court had found in March that Ibnsina, along with competitors United Co. for Pharmacists,\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":603406,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/04\/22\/ibnsina-lodges-appeal-with-egypts-court-of-cassation-to-further-reduce-antitrust-fine\/","url_meta":{"origin":630835,"position":5},"title":"Ibnsina lodges appeal with Egypt\u2019s Court of Cassation to further reduce antitrust fine","author":"enterpriseam admin","date":"22 April 2019","format":false,"excerpt":"DISPUTE WATCH- Ibnsina lodges appeal with Court of Cassation to further reduce antitrust fine: Ibnsina Pharma has filed an appeal with the Court of Cassation (the nation\u2019s highest court of appeals) against a lower court decision that cut an EGP 2 bn antitrust fine to EGP 160 mn, the company\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/630835","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=630835"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/630835\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/630827"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=630835"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=630835"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=630835"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=630835"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=630835"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}