14 July 2020 - Aspen has offered to cut prices by an average of 73% for six off-patent cancer drugs, EU antitrust regulators said on Tuesday, a move that could help the South African pharmaceutical company avoid a potentially hefty fine.

The European Commission opened an investigation into Aspen in 2017 following concerns it may have charged excessive prices for drugs critical in treating patients suffering from certain types of life-threatening cancer, such as leukaemia and multiple myeloma.

Aspen’s price cuts will cover all of Europe except for Italy, which imposed a five million euro ($5.68 million) fine on the company in 2016 for price hikes of up to 1,500% for some drugs.

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