Bayer (BAYRY) announced that it has filed suit against Johnson & Johnson (JNJ) and Janssen Biotech in the United States District Court for the Southern District of New York. “The suit follows J&J’s refusal to cease and desist its promotion of a scientifically flawed real-world evidence analysis that misinforms healthcare providers and patients in an effort to increase its market share in a concentrated and increasingly competitive prostate cancer treatment market. The lawsuit asserts that J&J makes false claims regarding the efficacy of Nubeqa. J&J’s promotional efforts, which include a press release issued to media and two presentations made available on its Medical Connect website, are commercial speech aimed at promoting its branded product that violate the Lanham Act given their false and misleading nature. The Lanham Act is a federal law that prohibits a company from making false or misleading commercial representations about a product’s safety, efficacy, or characteristics,” Bayer stated.
Claim 55% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on BAYRY:
- BAYRY Upcoming Earnings Report: What to Expect?
- Bayer downgraded to Sell from Buy at DZ Bank
- Bayer Stock Gains on Proposed $7.25B Settlement of Roundup Cancer Litigation
- Midday Fly By: Warner Bros. reopens Paramount talks
- Bayer’s DARO-DUB Study Sets Up New Real-World Test for Darolutamide in Advanced Prostate Cancer
