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Italy fines Novartis, Roche €182.5M for alleged collusion

Mar. 05, 2014 7:26 AM ETNovartis AG (NVS) StockNVS, RHHBY, RCHBFBy: Yigal Grayeff, SA News Editor1 Comment
  • The Italian Competition Authority has fined Novartis (NYSE:NVS) €92M and Roche (OTCQX: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.

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