In the United Kingdom there have been two recent significant

developments in respect of cartel activity. On Friday 11 July, Mr Justice Pitchford quashed an indictment alleging price fixing against five pharmaceutical companies and nine executives. On the same date, Gallaher and five retailers

agreed to pay £132 million to settle charges brought by the Office of Fair Trading (“OFT”). By any measure, the developments represent a spectacular defeat for Britain’s Serious Fraud Office (“SFO”) and a significant achievement for the increasingly aggressive OFT.

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