October 25, 2016 / 6:12 PM / a year ago

BUZZ-Concordia International Corp: UK CMA probes pharma sector

** Canadian drugmaker’s U.S.-listed shares down as much as 7.8 pct at $3.90

** Toronto-listed shares down 7.6 pct at C$5.23

** Company says UK Competition and Markets Authority (CMA) investigating its international business as part of wider probe into suspected overpricing in pharmaceutical sector

** Concordia expanded its international operations with acquisition of UK-based Amdipharm Mercury Ltd for $1.9 billion last year

** Company says investigation includes matters that pre-date Amdipharm buy

** CMA - a non-ministerial department that promotes competition within and outside UK - confirmed it has not reached a view as to whether there is sufficient evidence of any infringement for it to issue a statement of objections

** More than 1.7 mln U.S.-listed shares traded, 0.7x their 30-day moving avg

** Up to Monday’s close, stock had fallen nearly 89 pct YTD

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