CORRECTED: Novartis Knocks Colombia Over Leukemia Drug Price Control
Law360, New York (December 1, 2016, 7:22 PM EST) -- Swiss pharmaceutical giant Novartis has threatened to file an investor-state claim against Colombia over the country's decision to require a price control on Novartis' leukemia drug Glivec, a spokesman for the company confirmed on Thursday.
The spokesman told Law360 that the company had filed its notice of dispute over certain intellectual property rights under a bilateral investment treaty between the South American nation and Switzerlan in April, several months before Colombia's Ministry of Health issued a decision in June to enforce a declaration of public interest requiring a price control on Glivec.
The declaration issued by the Colombian health ministry stipulates that...
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