Competition office accepts Teva commitments
The Hungarian Competition Office (GVH) has accepted the commitments made by Israeli-owned pharmaceutical company TEVA Magyarország to organize an education campaign and to refund to consumers the difference between the price recommended in its advertisements for its Saballo product and the actually applied consumer price.
In announcing the decision yesterday, GVH noted that it took decisions in three procedures recently regarding information provided by Teva to consumers.
In the first, GVH established that Teva unlawfully said in its advertisements that its Saballo product, which can be used to treat urination problems caused by prostate enlargement, also serves for prevention and can help consumers avoid the operation sometimes necessary to treat the condition.
GVH then imposed a fine of HUF 1 million on Teva for unlawful advertising. GVH also analyzed advertisements of Teva's Lactiv nutritional supplement product and imposed a fine of HUF 3 million on Teva for misleading consumers.
In the third procedure, GVH analyzed advertisements of the Saballo product, which compared prices and highlighted the recommended consumer price, however, consumers often purchased the product at a higher price than advertised.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.