EU to Investigate Zoetis Over Possible Breach of Competition Rules — Update
By Ian Walker
The European Commission has started a formal investigation into animal health company Zoetis to see if it broke competition rules by preventing the launch of a competing pain medicine for dogs.
The Commission--the European Union's executive arm--said Tuesday that it plans to start an in-depth investigation as a matter of priority and that it has informed the company of the probe.
The Commission said that Zoetis bought an osteoarthritis-related pain-relief product for dogs, which was going to be commercialized in the European Economic Area by a third party, while developing its own medicine Librela.
"The Commission is concerned that Zoetis may have engaged in exclusionary behavior contrary to EU antitrust rules by terminating the development of this alternative pipeline product and refusing to transfer this pipeline medicine to the third party, which in the EEA had exclusive commercialization rights," it said.
The company wasn't immediately available for comment when approached by Dow Jones Newswires.
Write to Ian Walker at ian.walker@wsj.com
(END) Dow Jones Newswires
March 26, 2024 10:29 ET (14:29 GMT)
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