Russia: Novo violated anti-monopoly law
Russian regulators have their eyes on Novo Nordisk.
Russian regulators have their eyes on Novo Nordisk. The Danish diabetes specialist violated Russian anti-monopoly laws, alleges the government, which accuses Novo of refusing to make supply deals with some drug distributors--something that would restrict competition in the pharma market. The company faces a fine of up to 15 percent of its Russian revenues.
"The violation was in the company's unjustified avoidance and refusal to sign agreements with some buyers and discriminating against some potential partners in favor of existing ones, which has led to limited competition," the Federal Anti-Monopoly Service says in a statement, the Moscow Times reports.
The government has ordered Novo to stop violating the law, which bars a company in "a dominant position" in a particular market from refusing without cause to contract with a partner. There have to be specific reasons for that refusal, such as economic or technical ones, a Russian legal expert explains to the Times.
Related News
-
News New WHO health emergency guidelines expect full transparency from Big Pharma
The WHO are proposing a new set of pandemic guidelines to set out how future global health crises should be handled. -
News Biden's $2 billion Biotech Boost
President Biden issues executive order to bolster U.S. biomanufacturing sector. -
News US FDA grants priority review for Eisai and Biogen's Alzheimer's drug
Decision by US drug regulator on lecanemab expected by early next year -
News Panaxia's medical cannabis facility in Malta gains EU-GMP standard
This second facility gives the company a significant power multiplier for export capacity and geographical reach -
News CPHI Discover: Remote excipient audits are on the increase, but we must do more to develop novel excipients
Ahead of the session, Value Added Excipients to Unlock the Potential of APIs, at CPHI Discover on Thursday 18th May – global pharma’s largest ever virtual gathering – we spoke with one of the speakers, Dr Iain Moor... -
News Pharma Explained: What is Quality Risk Management & cGMPs?
Need clarity on determining your QA from your QbD and your cGMPs? You’re not alone! In our new Pharma Explained series from CPHI, we bring you clear cut definitions from industry experts on a myriad of Pharma Terms, delivered in bitesize video presenta... -
News Former FDA Commissioner lays out roadmap for building out excess capacity to deal with pandemic situations
Dr Scott Gottlieb shares insights into COVID-19 vaccine development, the upcoming US election and pharma pricing at the CPHI Festival of Pharma -
News Successful MHRA regulatory inspection for Scottish CMO Symbiosis
Inspection conducted remotely using video-conferencing and an online private document sharing platform.
Position your company at the heart of the global Pharma industry with a CPHI Online membership
-
Your products and solutions visible to thousands of visitors within the largest Pharma marketplace
-
Generate high-quality, engaged leads for your business, all year round
-
Promote your business as the industry’s thought-leader by hosting your reports, brochures and videos within your profile
-
Your company’s profile boosted at all participating CPHI events
-
An easy-to-use platform with a detailed dashboard showing your leads and performance