Roche Bay PlcGrey Market
Mar. 5, 2014, 7:26 AM
- 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.