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Wed, Mar. 5, 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.
RCHBF vs. ETF Alternatives
Roche Bay plc (US OTC: RCHBF) is an emerging iron ore company with a large resource base in Canada's northeast, in two groups of ore bodies: the Eastern which are the current focus and the Western ore bodies which will support an inter-generational life of mine. The project's key advantages... More
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