The Competition Authority's view on the Icelandic pharmaceutical market

Monopoly and Barriers to Competition in the Icelandic Pharmaceutical Market. A breakfast meeting of the Institute for Pharmaceutical Research at the University of Iceland, Thursday, 29 November 2007.

Speech by Páll Gunnar Pálsson, Director General of the Competition Authority

I have been asked to share with you the competition authorities' view on the Icelandic pharmaceutical market. The Competition Authority's vision is, of course, based on the fundamental objective of competition law which, according to the law itself, is to promote effective competition in trade and thereby contribute to the efficient use of the nation's production factors. The Competition Authority is tasked with promoting this objective by working against undue obstacles and restrictions on freedom of enterprise, working against harmful oligopoly and barriers to competition, and facilitate the entry of new competitors into the market, as is stated in the Act.

The Competition Authority's vision is primarily reflected in its rulings on various types of competition-related issues.  What I will do next is briefly discuss how the pharmaceutical market, and in particular its retail sector, was viewed by the Competition Authority in a recent merger case.  I will also discuss matters of great importance to the pharmaceutical market, matters which are within the remit of other authorities than the Competition Authority to influence directly through legislation and other measures.  My remarks are therefore limited, on the one hand, to existing administrative decisions and, on the other, to discussing matters that cannot give rise to a formal administrative decision by the Competition Authority.  By its very nature, the Authority cannot express its views here and now on opinions or positions regarding matters that are either under administrative proceedings or that may come before the Authority in an administrative case.

The speech in its entirety (PDF document – Opens in a new window).

Slides Shown under speech (PDF document – Opens in a new window).