Seeking Alpha

Italy fines Novartis, Roche €182.5M for alleged collusion

  • The Italian Competition Authority has fined Novartis (NVS) €92M and Roche (RHHBY) €90.5M for forming a cartel to push doctors to prescribe their jointly marketed and more expensive Lucentis therapy to treat vision problems instead of Roche's Avastin, which is older and far cheaper.
  • The agency accused the companies of portraying Avastin as riskier than Lucentis in order to influence prescriptions.
  • Both firms said they would appeal.
  • Novartis and Roche could face further problems if the EU looks into the case and finds that the collusion extended beyond Italy.
Comments (1)
  • User 19940311
    , contributor
    Comment (1) | Send Message
     
    They sell life saving drugs but are a Cancer for humanity .
    9 Mar, 04:29 AM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector

Next headline on your portfolio:

|