The Johnson & Johnson, Novartis Agreement Controversy Continues
As per reports, recently the European Commission announced that it has opened an antitrust examination related with the agreement controversy hyped between U. S pharmaceutical company Johnson & Johnson (JNJ) and Swiss peer Novartis AG.
The whole issue came to limelight after the previous news reports argued that both the companies have limited the market access for the generic competitors over a painkiller in the Netherlands regions.
However, soon after the issue was raise, the commission officers, which has antitrust powers in the European Union, stated that they have again opened the case investigation to review whether contractual preparations between both the companies had some effect on the sales of Fentanyl (painkiller) in the in the Netherlands areas.
Moreover, in an official statement, the Commission said that the tablet is known to a strong pain killer, which is certainly used for reducing chronic pain.
While this was not the first time that the commission's antitrust authorities have announced the investigation procedures in the pharmaceutical sector, as earlier the officials have targeted these sectors to make sure that all the companies don't limit the competition from generic drugs to the detriment of patients.
Meanwhile, EU competition commissioner, Joaquin Almunia commented that all the Pharmaceutical companies have already been rewarded for their modernism efforts by their potential patents.
He continued to praise Pharmaceutical companies, and stated that by paying a contestant to stay out of the market is certainly not the right method to play a fair competition and at any cost, the commission will not tolerate this.
He added, "I regard this sector as a priority in terms of enforcement of competition rules given its importance for consumers and for governments' finances".
On the other hand, another report affirmed that as compared to other drugs, Generic drugs were found far cheaper.
New Zealand News
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