UPDATE 1-US launches Section 301 probe into Germany over drug pricing

Updates with USTR quote in paragraph 3, embassy comment in paragraph 4 and hearing in paragraph 5

WASHINGTON, June 18 (Reuters) - The United States has initiated an investigation under Section 301 of the Trade Act of 1974 against Germany, U.S. Trade Representative Jamieson Greer said on Thursday.

The investigation will seek to determine whether persistent underpayment for innovative pharmaceutical products by Germany is unreasonable or discriminatory, the USTR said.

"I am particularly concerned with news that Germany is fast-tracking legislation that would further reduce its spending on innovative pharmaceuticals," Greer said.

The German Embassy in Washington did not immediately respond to a request for comment.

The trade representative will open a docket for submission of written comments on June 25 and its Section 301 Committee will hold a public hearing on the probe in September.


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