Sep 15, 2022 7:06 am | 1 minute read
![The Swiss Competition Commission is investigating the use of patents by Novartis to defend against competition](border:none;bottom:0;box-sizing:border-box;display:block;height:0;left:0;margin:auto;max-height:100%;max-width:100%;min-height:100%;min-width:100%;padding:0;position:absolute;right:0;top:0;width:0;object-fit:cover;background-image:url("https://cdn.benzinga.com/files/images/story/2022/09/15/novartis.jpg?width=50");background-position:0% 0%;background-size:cover;filter:blur(20px))
- The Swiss Competition Commission (WEKO) has launched an investigation Novartis AG NVS about the alleged illegal use of patents to reduce competitive pressure.
- WEKO carried out a raid on the company early in the morning; However, the company’s name was not revealed in its statement. Meanwhile, the pharma major issued a press release saying it was investigating.
- “The company is said to have tried to protect its drug for the treatment of skin diseases against competing products by using one of its patents to initiate legal proceedings,” WEKO said in a statement quoted by Reuters.
- Also read: Novartis Dodges Whistleblower Lawsuit Over Multiple Sclerosis Drug Kickback Claims.
- Novartis said so too The WEKO had initiated an investigation in collaboration with the European Commission to assert a patent in the broader field of dermatological treatments.
- “In connection with this investigation, representatives of WEKO visited the company headquarters in Basel,” said Novartis.
- “Opening an investigation does not mean finding wrongdoing or any financial implications. Novartis is fully cooperating with the authorities and is confident in clarifying the legitimacy of its position,” the company added.
- Price promotion: NVS shares are up 1.29% to $81.95 during the premarket session last check Thursday.
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Read full story here https://www.benzinga.com/general/biotech/22/09/28877491/swiss-competition-commission-investigates-novartis-patent-use-to-fend-off-competition
