Sandoz in fraud probe
Sandoz, the generic manufacturing affiliate of Novartis, is under investigation by the Serious Fraud Office (SFO) for alleged criminal marketing practices. The SFO is investigating activities at Sandoz to ascertain if it broke criminal and competition law while selling its products between January 1996 and December 2000.
Sandoz manufactures an extensive range of generic drugs in the UK, including tamoxifen and ibuprofen. However, both Novartis and the SFO were unable to comment on which drugs are being investigated.
During the four-year period in question, Sandoz traded as Lagap Pharmaceuticals and was not part of the Novartis portfolio but as an affiliate of the Swiss-based pharma company today, if Sandoz is found guilty it could be costly for Novartis. The inquiry into the generic affiliate's activities is part of a widening investigation by the SFO into price-fixing by pharma companies.
In April 2002, the SFO launched a major investigation into a suspected conspiracy to defraud the NHS through price-fixing on prescribed penicillin-based antibiotics and warfarin between January 1996 and December 2000.
The SFO is now planning to interview leading figures, a spokesman for the SFO confirmed that other, so far unnamed, individuals would also be called for interview. News of the investigation came as Novartis chief executive admitted that big pharma had lost the trust of consumers and regulators.
Sandoz manufactures an extensive range of generic drugs in the UK, including tamoxifen and ibuprofen. However, both Novartis and the SFO were unable to comment on which drugs are being investigated.
During the four-year period in question, Sandoz traded as Lagap Pharmaceuticals and was not part of the Novartis portfolio but as an affiliate of the Swiss-based pharma company today, if Sandoz is found guilty it could be costly for Novartis. The inquiry into the generic affiliate's activities is part of a widening investigation by the SFO into price-fixing by pharma companies.
In April 2002, the SFO launched a major investigation into a suspected conspiracy to defraud the NHS through price-fixing on prescribed penicillin-based antibiotics and warfarin between January 1996 and December 2000.
The SFO is now planning to interview leading figures, a spokesman for the SFO confirmed that other, so far unnamed, individuals would also be called for interview. News of the investigation came as Novartis chief executive admitted that big pharma had lost the trust of consumers and regulators.
<< Home