Court dismisses Australian watchdog’s appeal against Pfizer ruling


(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 local unit used its market power to limit competition for its cholesterol-lowering drug Lipitor.

FILE PHOTO: A man walks past Pfizer’s world headquarters in New York April 28, 2014. REUTERS/Andrew Kelly/File Photo

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

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