December 21, 2016 / 4:06 PM / 2 years ago

Novartis contests Colombian decision to cut price of cancer drug

ZURICH, Dec 21 (Reuters) - Novartis said on Wednesday it is challenging the Colombian Ministry of Health’s decision to lower the price of its cancer drug imatinib (Glivec) by nearly half in an effort to cut health care costs.

The Swiss drugmaker said it was filing an annulment action to challenge the decision to enforce a Declaration of Public Interest, saying it could create a damaging precedent.

“We are pursuing this case out of concern for the repercussions it could have for the intellectual property system and future of innovative medicines,” Novartis said in a statement.

Reporting by John Revill

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