financetom
Business
financetom
/
Business
/
Novartis, Roche unit and others face Italy antitrust probe over eye drug
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Novartis, Roche unit and others face Italy antitrust probe over eye drug
Jun 6, 2024 3:52 AM

ROME, June 6 (Reuters) - Italy's antitrust regulator

said on Thursday it had launched an investigation into

pharmaceutical companies including Novartis and

Roche-controlled Genentech for having potentially

restricted competition in the sale of an eye drug.

Biopharma developer Samsung Bioepis, biotechs Biogen

and Genentech, and Novartis, and some of their Italian,

Dutch and UK units, allegedly coordinated their commercial

strategies to delay the launch in Italy of Byooviz, a drug made

with ranibizumab and developed and sold by Samsung Bioepis, the

watchdog said in a statement.

Searches had been carried out in Italy, with the support of

the finance police, and in the Netherlands by the Dutch

regulator, it added.

Byooviz is a biosimilar of Lucentis, which was developed by

Genentech and sold in Italy and other countries outside the U.S.

by Novartis.

A biosimilar has a structure that closely mimics an existing

biologic drug but is not exactly alike.

Ranibizumab injections are used to manage and treat

neovascular age-related macular degeneration and macular edema

in the eye.

The suspected delay may have limited the availability and

prices for patients but may also have negative repercussions on

possible savings by the Italian national health services, the

authority said.

Novartis is cooperating with the authority, providing the

information requested, a company spokeswoman said in an emailed

statement to Reuters.

"Novartis strongly believes that it has acted appropriately

and in accordance with competition law and in the best interests

of patients," she added.

Roche in a separate email said it did not comment on

regulatory or legal investigations, potential or ongoing.

It added that for the company and Genentech, biosimilar

competition is a normal part of a treatment's life cycle and

that biosimilars "have an important role to play in supporting

the financial sustainability of healthcare systems, while making

headroom for innovation".

Samsung Bioepis is fully cooperating with the ongoing

investigation, a spokesperson said in an emailed comment.

Biogen did not immediately respond to requests for comment.

(Reporting by Giulia Segreti in Rome and Paul Arnold in Zurich,

editing by Alvise Armellini, Lincoln Feast and Sriraj Kalluvila)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Doordash Insider Sold Shares Worth $1,467,471, According to a Recent SEC Filing
Doordash Insider Sold Shares Worth $1,467,471, According to a Recent SEC Filing
May 22, 2024
04:12 PM EDT, 05/22/2024 (MT Newswires) -- Tia Sherringham, General Counsel and Secretary, on May 20, 2024, sold 12,903 shares in Doordash ( DASH ) for $1,467,471. Following the Form 4 filing with the SEC, Sherringham has control over a total of 195,252 shares of the company, with 195,252 shares held directly. SEC Filing: https://www.sec.gov/Archives/edgar/data/1792789/000141588924014076/xslF345X03/form4-05222024_040523.xml ...
Nextnav Insider Sold Shares Worth $267,355, According to a Recent SEC Filing
Nextnav Insider Sold Shares Worth $267,355, According to a Recent SEC Filing
May 22, 2024
04:13 PM EDT, 05/22/2024 (MT Newswires) -- Arun Raghupathy, Senior Vice President, on May 21, 2024, sold 34,453 shares in Nextnav ( NN ) for $267,355. Following the Form 4 filing with the SEC, Raghupathy has control over a total of 1,096,085 shares of the company, with 1,096,085 shares held directly. SEC Filing: https://www.sec.gov/Archives/edgar/data/1865631/000121390024045886/xslF345X03/ownership.xml ...
Doordash Insider Sold Shares Worth $1,610,964, According to a Recent SEC Filing
Doordash Insider Sold Shares Worth $1,610,964, According to a Recent SEC Filing
May 22, 2024
04:12 PM EDT, 05/22/2024 (MT Newswires) -- Ravi Inukonda, CFO, on May 20, 2024, sold 14,163 shares in Doordash ( DASH ) for $1,610,964. Following the Form 4 filing with the SEC, Inukonda has control over a total of 448,851 shares of the company, with 448,851 shares held directly. SEC Filing: https://www.sec.gov/Archives/edgar/data/1792789/000141588924014077/xslF345X03/form4-05222024_040527.xml ...
Update: General Motors Loses Fender Design Patent Ruling, Case Back at Patents Tribunal
Update: General Motors Loses Fender Design Patent Ruling, Case Back at Patents Tribunal
May 22, 2024
04:12 PM EDT, 05/22/2024 (MT Newswires) -- (Updates with GM's response in the fourth paragraph.) General Motors ( GM ) lost a patent dispute ruling over a front fender design against LKQ (LKQ) after the US Court of Appeals for the Federal Circuit threw out Rosen-Durling test for evaluating nonobviousness of design patents, according to a court filing. LKQ had...
Copyright 2023-2026 - www.financetom.com All Rights Reserved