Court dismisses Australian watchdog's appeal against Pfizer ruling

The logo of U.S. pharmaceutical corporation Pfizer Inc. is seen at a branch in Zurich, Switzerland October 2, 2018. REUTERS/Arnd Wiegmann - Copyright ARND WIEGMANN(Reuters)

By Reuters

Published on 19/10/2018 - 04:34•Updated 20/04/2024 - 02:30

Comments

(Reuters) - Australia's competition watchdog said on Friday the High Court dismissed its special leave application to appeal a court's decision on whether Pfizer Inc's <PFE.N> local unit used its market power to limit competition for its cholesterol-lowering drug Lipitor.

The Australian Competition and Consumer Commission (ACCC) sought leave to appeal against a judgment handed down by the Full Federal Court in May.

The court had found that Pfizer took advantage of its substantial market power, but did not accept the ACCC's argument that Pfizer had acted to lessen or deter competition.

(Reporting by Nikhil Kurian Nainan in Bengaluru; editing by Richard Pullin)

Comments