BERLIN – Switzerland’s COMCO competition commission terminated an investigation against Novartis (NYSE: NVS) into possibly using blocking patents, without consequences, it said on Thursday.
COMCO opened the probe in September 2022 to determine whether the pharmaceutical giant intended to unlawfully protect one of its medicines by filing various patent infringement lawsuits, the commission said in a statement.
“The investigation revealed that Novartis’ actions finally were common practice in the field of patent law and, further, did not confirm the above indications of an unlawful restraint of competition,” it said in the statement.
The European Commission, which undertook its own analysis of the case, came to the same conclusion as COMCO, the EU’s director general for competition said on social media platform X.
“Both authorities concluded there was insufficient basis to pursue the case further,” it added.
(Source: Reuters)
Mark Glenn is a financial journalist and breaking news reporter for ABBO News. Mark is known for his ability to deliver real-time news updates on market developments, mergers and acquisitions, corporate earnings reports, and regulatory changes, helping investors stay informed and make sound financial decisions.
