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Brexit
HoL EU Services Sub-Committee report on trade in services
On 24 March, the HoL European Union Committee published a new report on UK-EU trade in services. The report concludes that despite the agreement of the Trade and Cooperation Agreement (TCA), the UK and EU still have work to do in overcoming the significant challenges that remain for trade in services. The report focuses on the implications on sectors including: (i) financial services, the TCA does not include substantive provisions on financial services, and delays to key decisions about the future relationship, particularly on equivalence, mean that the sector is still in a period of uncertainty. The UK’s exit from the passporting regime has led to the movement of some activity to the EU and firms facing the challenges involved in navigating different market access requirements in each Member State. The Committee is concerned that over time this may lead to a big shift of people and assets out of the UK. The Commit
ANTITRUST AND COMPETITION
The European Commission Accepts Commitments from a Pharma Company to Stop Its Excessive Prices
On 15 May 2017, the European Commission (Commission) announced that it had opened formal proceedings to investigate whether a pharma company abused its dominant position by charging excessive prices for certain off-patent cancer medicines, in breach of EU antitrust rules.
The Commission found that the pharma company has consistently earned very high profits from its sale of these cancer medicines in Europe, both in absolute terms and when compared with the profit levels of similar companies in the industry. In fact, the company’s prices exceeded its relevant costs by almost 300 percent on average without the Commission’s investigation revealing any justifications for the company’s high-profit levels.
Brussels Regulatory Brief: February 2021 Friday, March 12, 2021
The European Commission Accepts Commitments from a Pharma Company to Stop Its Excessive Prices
On 15 May 2017, the European Commission (Commission) announced that it had opened formal proceedings to investigate whether a pharma company abused its dominant position by charging excessive prices for certain off-patent cancer medicines, in breach of EU antitrust rules.
The Commission found that the pharma company has consistently earned very high profits from its sale of these cancer medicines in Europe, both in absolute terms and when compared with the profit levels of similar companies in the industry. In fact, the company’s prices exceeded its relevant costs by almost 300 percent on average without the Commission’s investigation revealing any justifications for the company’s high-profit levels.
Speech by Minister Donohoe to the European Financial Forum 2021: Leading the Economic Recovery
Unlike last year, we are meeting online today.
I must admit it I do miss physical meetings. Nevertheless, I am still delighted to be here today and I look forward to engaging with you all.
We are all conscious that we are living in unusual and challenging times.
Right across this continent and right across the globe, people of all ages have had to adapt to what we have euphemistically come to call the ‘new normal’.
Covid-19 has generated the greatest crisis of our times, exposing inequalities and vulnerabilities both within and among countries.