MILAN (Reuters) – An Italian administrative court has canceled a contract between diagnostics group Diasorin and a hospital in the northern region on Lombardy for the development of a coronavirus antibody test, a ruling seen by Reuters showed on Monday.
Diasorin, which said it would appeal against the ruling, saw its shares fall as much as 6.9%. They closed down 3.9% at 159.6 euros per share, underperforming a roughly flat Milan All-Share index.
The deal with Policlinico San Matteo hospital, which both treats patients and is a research institute at the heart of one of Europe’s worst outbreaks of the coronavirus, was part of a broader push to set up widespread testing system.
It was challenged in court by Diasorin’s rival Technogenetics.
The court said the agreement had been reached without a public procedure, giving Diasorin a competitive advantage over other industry players.
It added that it would send the documents of the proceedings to Italy’s audit court to assess…
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