Novartis confirms Swiss competition authorities’ attack on patent use probe

Novartis confirms Swiss competition authorities’ attack on patent use probe

By Scott Kanosky

Investing.com – Novartis AG (SIX πŸ™‚ has confirmed that the Swiss Competition Commission (COMCO) has visited the pharmaceutical company’s Basel headquarters in connection with an investigation into the possible illegal use of a dermatological patent.

In a statement, which did not specifically name Novartis, the organization said that KOMCO officials carried out the raid on Sept. 13. Regulators are looking into allegations that the company tried to protect a dermatological treatment from competitors by using one of its patents to initiate legal action.

In a separate statement, the company said the investigation did not imply wrongdoing or any financial impact on its operations. Novartis added that it was cooperating with the authorities and was confident that they would be able to “clarify the legitimacy of their position.”

Shares in Novartis fell slightly in early European trading on Thursday.

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