French regulators fine Swiss pharmaceutical giants Novartis and Roche for their alleged anticompetitive pay-for-delay agreements that blocked the sale of a cheaper version of a Roche-made cancer drug, say reports.
Italy announced Wednesday that it has imposed a fine of $251 million on the companies after finding evidence the competing firms colluded to prevent the sale of Roche’s cheaper cancer drug Avastin, used to tread an eye disease, to allegedly place more market favor to Novartis’s Lucentis, which costs more.
Reports say the companies partnered to market the more expensive drug.
The two companies have denied the allegations and Roche has since vowed to appeal the fines, say reports. But the sanctions follow consumer advocacy group the European Consumer Organization’s calls for an EU-wide investigation into the practice of pharma giants colluding to block the sale of a cheaper drug to promote sales of a more expensive version of the same treatment, known as a pay-for-delay scheme.
Full Content: Bloomberg
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Uruguayan Antitrust Scrutiny Puts Major Meatpacking Deal Between Marfrig and Minerva on Hold
May 19, 2024 by
CPI
Alaska Airlines Seeks Dismissal of Consumer Lawsuit Over $1.9 Billion Hawaiian Airlines Buy
May 19, 2024 by
CPI
Idaho Attorney General Orders Split of Kootenai Health and Syringa Hospital
May 19, 2024 by
CPI
Court Rejects T-Mobile’s Appeal Bid in Antitrust Case Over Sprint Merger
May 19, 2024 by
CPI
Google Requests Judge, Not Jury, to Decide on Antitrust Case
May 19, 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