Italy's antitrust regulator has initiated an investigation into several pharmaceutical giants, including Novartis AG (NYSE:NVS) and Roche Holdings AG (OTC:RHHBY)-controlled Genentech, for allegedly restricting competition in the sale of an eye drug.

The probe focuses on potential delays in the Italian market launch of Byooviz, a ranibizumab-based drug developed by Samsung Bioepis, due to coordinated strategies by these companies and their subsidiaries in Italy, the Netherlands, and the U.K.

Reuters noted that the Italian watchdog, supported by the finance police, carried out searches in Italy and the Netherlands, with assistance from the Dutch regulator.

Byooviz is a biosimilar of Lucentis, originally developed by Genentech and marketed outside the U.S. by Novartis.

Ranibizumab injections treat neovascular age-related macular degeneration and macular edema in the eye.

The antitrust authority expressed concerns that the suspected delay could have limited drug availability and affected prices for patients, potentially impacting the cost-saving measures of the Italian national health services.

Novartis is cooperating with the investigation, providing the requested information. In an emailed statement to Reuters, a company spokesperson emphasized that Novartis believes it has acted appropriately and in accordance with competition laws, always prioritizing patient interests.

Roche told Reuters it does not comment on regulatory or legal investigations but noted that biosimilar competition is a normal aspect of a treatment's lifecycle.

The company highlighted the critical role of biosimilars in supporting healthcare systems' financial sustainability and fostering innovation.

Samsung Bioepis also affirmed its full cooperation with the ongoing investigation, underscoring its commitment to transparency.

Price Action: NVS shares are up 0.58% at $105.97 at the last check on Thursday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.