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UK watchdog fines GSK $54 mln over 'pay-for-delay' drug deals

Reuters - UK Focus

LONDON, Feb 12 (Reuters) - Britain's competition body said on Friday it had fined GlaxoSmithKline (Other OTC: GLAXF - news) 37.6 million pounds ($54.42 million) for market abuse in striking deals to delay the launch of generic copies of its antidepressant Seroxat.

GSK said it strongly disagreed and argued its actions had actually brought down the cost of medicine for the state-run health service. The drugmaker added it was considering grounds for appeal.

Generic drug companies involved were also fined smaller amounts, bringing the total fines to 45 million pounds.

($1 = 0.6909 pounds) (Reporting by Ben Hirschler; editing by Jason Neely)