Pakistan, July 3 -- The Competition Commission of Pakistan (CCP) has imposed a total penalty of Rs. 42 million on United Distributors Pakistan Limited (UDPL) and International Brands (Private) Limited (IBL) for entering into and giving effect to a non-compete agreement that violated Section 4 of the Competition Act, 2010.
In a detailed order, the Commission found both companies guilty of entering into a restrictive agreement that prevented UDPL from entering the distribution market of human pharmaceutical products in Pakistan for three years, said a press release issued here on Wednesday.
In return, IBL paid Rs. 1.131 billion to UDPL as compensation-an arrangement disclosed by UDPL to the Pakistan Stock Exchange (PSX) without prior regula...