The Federal Court of Australia on Wednesday dismissed a case against the local arm of Pfizer Inc. that alleged the drug company misused its market power to sell a popular cholesterol-lowering product.

Judge Geoffrey Flick found that the Australian Competition and Consumer Commission, which brought the case against Pfizer Australia, had failed to establish that the company had used its market position to deter or prevent competition. 

Judge Flick also found that Pfizer Australia’s market power was no longer substantial in early 2012, when the regulator said the company had made offers to drugstores for the supply of Lipitor and the generic variant of the atorvastatin drug. 

Pfizer Australia welcomed the court decision, saying in an emailed statement that it had always maintained its behavior was appropriate.

For more details, go to: http://www.wsj.com/articles/pfizer-australia-lipitor-case-dismissed-1424842448