Colombia’s Superintendence of Industry and Commerce has enacted precautionary measures against Khiron Colombia S.A.S., requested by Pharmacielo Colombia Holdings S.A.S. which has accused Khiron of unfair competition.
According to the plaintiff (Pharmacielo), legal counsel Andrés Eduardo Torres Rueda leaked sensitive information related to the structure of their commercial activity; cannabis production and manufacturing processes; expected returns; as well as data on the processing and management of the exploitation licenses, among others, to his brother Álvaro Francisco, legal representative of Khiron Colombia.
The SIC ordered the Ministry of Justice, the Ministry of Health and the National Narcotics Fund to suspend all licenses granted to Khiron for the manufacture of cannabis derivatives, as well as the use of seeds and plant cultivation. However, in order for the measures to be effective, the SIC ordered Pharmacielo to pay a bond of $500 million pesos to cover the possible damages to Khiron as a result of this cautionary decision.
Álvaro Torres, CEO of Khiron, said that they have not received any legal notices so far against the firm and that “it is strange that these actions exist since there is yet no industry or legal market for medicinal cannabis in Colombia.”
Full Content: Asuntos Legales
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
UK’s CMA Investigates Education Software Company for Market Abuse
May 14, 2024 by
CPI
Schumer Urges FTC Caution on Chevron’s $53B Hess Deal Over Gas Price Fears
May 14, 2024 by
CPI
Amazon Urges US Judge to Block FTC Probe into Data Preservation
May 14, 2024 by
CPI
Colorado Makes History: First State to Enact Comprehensive AI Legislation
May 14, 2024 by
CPI
Class Action Settlement Reached in Cheerleading Monopoly
May 14, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Ecosystems
May 9, 2024 by
CPI
Mapping Antitrust onto Digital Ecosystems
May 9, 2024 by
CPI
Ecosystems and Competition Law: A Law and Political Economy Approach
May 9, 2024 by
CPI
Ecosystem Theories of Harm: What is Beyond the Buzzword?
May 9, 2024 by
CPI
Open Ecosystems: Benefits, Challenges, and Implications for Antitrust
May 9, 2024 by
CPI