Nurofen manufacturer hit with $6 million fine high court appeal
New Zealand룰렛 to lose millions in healthcare spending from Nurofen
New Zealand may lose billions of dollars if the Australian firm Nurofen falls foul of the high court, a Wellington lawyer said on Thursday.
But New Zealand Health Ministry chief executive Ian McLean defended the state’s $7 million financial penalty against the company.
He said it was the smallest fine the court could have imposed on a New Zealand health company but was the start of a process that would take some time.
Mr McLean said there were other ways the court could have fined the company but he did not think it should.
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“The penalty is a slap on the wrist – I believe it is. It is a lesson that we have got to be very much cautious, and we have got to go back and look at what has happened with this fine and make sure that things don’t repeat themselves with this fine.”
The $5.1 million fine is a drop in the bucket compared with the $22.1 million fine levied against the Australian company Medco 룰렛last year.
Medco was fined about $9 million for fraud involving thousands of patients.
‘Risk of recurrence’
In a ruling, the High Court ruled the company had failed to produce evidence of alleged mismanagement and falsification in the pharmaceutical industry and had overstepped its boundaries with its decision.
The drug company admitted making an unfair bid to secure an 18 percent market share in a New Zealand pharmaceutical market.바카라사이트
“In the light of the serious risks involved, the High Court found that Medco breached its duties under the Act and was guilty of serious fraud and breach of confidence,” the court said.
It also found the company had failed to keep up its obligations as to the performance of its contract.
It fined Medco $2.4 million, about $7 million less than what was originally assessed but still a $22.1 million fine.
New Zealand pharmaceutical regulator Pharmacies of Australia said it had been surprised with the ruling, while New Zealand’s health minister, Jonathan Coleman, said th