A PYMNTS Company

Colombia: Government squares off against Novartis over cancer drug monopoly

By  |  May 24, 2016

Colombia’s health ministry has delivered an ultimatum, giving Swiss multinational pharmaceutical company Novartis a couple of weeks to bring down the price of a popular drug used in cancer treatment. The government has threatened the company with ending its current monopoly on the drug by allowing local labs to produce generic versions.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    Documents created by Colombia’s embassy in Washington have described an intense pressure from Pharma sector lobbyists in the US congress to bear down on Colombia’s government over the controversy. THe embassy has warned that any action breaking Novartis’ monopoly on the Gleevec-Glivec drug, used in the treatment of leukaemia and other blood cancers in Colombia and other countries, could jeopardize the US’s backing for Colombia’s entry into the Trans Pacific Partnership Agreement.

    Colombian Health Minister Alejandro Gavíria, a trained economist, commented on the diplomatic pressure, saying this shows the lengths to which the pharmaceutical industry is willing to go in order to protect their interests. “They are very afraid that Colombia’s example might catch on in the region” said the minister.

    Full Content: NTR Guadalajara

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.