Novartis, Roche, Genentech Get Joint EUR444 Million Fine From French Antitrust Authority

By Cecilia Butini

France's antitrust authority said Wednesday it has fined pharmaceutical companies Novartis AG, Roche Holding AG and Genentech a total of 444 million euros ($552.8 million) for abusive practices related to the marketing of an eye-disease treatment.

The authority said the three companies abused their collective dominant position with respect to the sales of Lucentis, a drug developed by Genentech laboratories to treat age-related macular degeneration, a condition which causes low vision in people over 50.

According to the French authority, the three companies' practices were aimed at curbing the use of another equally effective drug, Avastin, which cost 30 times less than Lucentis.

The EUR444 million fine comprises a EUR385.1 million penalty for Novartis and EUR59.7 million for Roche and Genentech, the competition authority said. Genentech is a subsidiary of Roche.

Write to Cecilia Butini at cecilia.butini@wsj.com

(END) Dow Jones Newswires

September 09, 2020 06:54 ET (10:54 GMT)

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