MOSCOW, October 30 (RAPSI) – The Ninth Commercial Court of Appeals has upheld a decision of Russia’s Federal Antimonopoly Service (FAS) finding two drug firms guilty of collusion at an auction of medicines, the antimonopoly watchdog informs in a statement on Tuesday.

Firm Eurosevice and OOO Mega Pharm, the statement reads, colluded to prop up prices relating to pharmaceuticals, medical preparations, treatment tools and equipment earning over 800 million rubles (about $12.6 million at the present exchange rate) as a result.

The court of appeals reversed the Moscow Commercial Court’s earlier ruling, which said two companies had made a trust management agreement, and thus were not to be deemed a cartel under the antimonopoly law.