No free lunch

Charging two customers different prices may stick in the craw – especially if you are paying more. The European Court seems to agree. By refusing to take sides in a dispute between Glaxo and Greece, it has denied the right of drugs groups to maintain different prices in different markets. This means wholesalers can continue to buy drugs from cheap markets such as Greece and sell them in more expensive markets such as the UK. While the ruling may play well with public opinion, it makes little se...