Lundbeck faces EU investigation

Brussels/Copenhagen : European Union antitrust officials said they opened an investigation into possible anticompetitive behaviour by Danish drugmaker Lundbeck, but the firm said it had not broken any laws.

The European Commission, executive arm of the EU, said yesterday it would investigate the international drug development group for potential breaches of EU rules on restrictive business practices and the abuse of a dominant market position.

It said Lundbeck, the original developer of an anti-depressant drug called Citalopram, may have hindered the entry of a generic form of the drug into European markets.

"The Commission in particular intends to investigate unilateral behaviour and agreements by Lund-beck which may hinder the entry of generic Citalopram into markets in the European Economic Area," the Commission said in a statement.

Lundbeck said it was cooperating fully with the investigation.

"We have nothing to hide," Lundbeck's spokesman Mads Kronborg said.

"Lundbeck is confident that the group has complied with all relevant national and EU competition legislation," the company said in a statement.

No influence

Lundbeck said that the investigation would have no influence on 2009 fin-ancial results.

Shares in Lundbeck were unfazed by the announcement and traded up 1.8 per cent at 98.25 crowns by 1141 GMT, against the trend of a falling DJ Stoxx European health care sector index.