CONCORDIA FOUND GUILTY BY CMA PROVISIONALLY

[marigold22]

bbc.co.uk/news/business-420...

[Edited by admin to point out our guideline:

14. If you post a link, please at least explain briefly what people can expect to find if they follow the link. Links without such an introduction/explanation may be deleted.

healthunlocked.com/thyroidu... ]

[marigold22]

My previous heading/title didn't fully explain what's just happened so deleted it and re-titled it.

[marigold22]

Let us pray that the CMA continue forward and fully find Concordia guilty. If so they can be fined up to 10% of their worldwide turnover

[jimh111]

The official statement is here gov.uk/government/news/drug... .

It's important to keep the pressure up and visit your MP if possible. Concordia are on the verge of bankruptcy. If the CMA doesn't progress quickly there will be no money left to reclaim or no company to persue. If this is the case the price of liothryonine will stay high.

[marigold22 in reply to jimh111]

I'm a cynical old witch these days ---- they've stashed their money offshore more like. I can't believe those two brothers/business partners would go bankrupt.

[marsaday in reply to marigold22]

Directors never loose much money as the company goes bust not them individually.

The system is open to abuse eg double glazing companies go bust all the time only to reopen the next week with a new family member as lead director.

[marigold22 in reply to jimh111]

Well, if the NHS spent £34m on Liothyronine last year, it proves that people DO need it and DO want it prescribed.

[lady_eve in reply to jimh111]

It's of huge concern to me that Concordia are 'on the verge of bankruptcy.' What will that mean for their levothyroxine, which is the only preparation of L-T4 I have been able to tolerate, if they go bust? Coming on top of the withdrawal of my DHEA replacement, this will be too much.

[helvella in reply to lady_eve]

lady_eve,

I would have thought that the old Mercury Pharma arm could possibly be sold as a going concern. The creditors of Concordia would simply want the best deal they can get.

[lady_eve in reply to helvella]

It would certainly be a huge relief if that were the case. Thank you.

[marigold22]

jimh111 has stated that CONCORDIA are letting it be known that their business is struggling. (sending funds offshore and to where it can't be found more like)

Please write to The Project Director of this case at the CMA – Ronan Flanagan

'[e-mail]'

Tell him that it is widely known amongst the Thyroid Community that Concordia are on the verge of bankruptcy, or alternatively are hiding their profits offshore.

Tell him that if the CMA does not progress this case very urgently, there will be no money or company to pursue and the NHS will not be reimbursed.

Also if that situation occurs, the price of Liothyronine will remain highly inflated.

[SlowDragon Administrator]

Also CMA should include AMCo in this case

[jimh111 in reply to SlowDragon]

AMCo is a subsidary of Concordia.

[helvella]

The Guardian article on this:

theguardian.com/business/20...

Sadly, not open to comments.

[Quokka]

Maybe the NHS will try to find a cheaper source now. Still hope!