Novartis AG (NVS) Sacks 18 for Fabricating Sales Data
6/12/2013 8:07:35 AM
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Swiss drug maker Novartis AG’s Indian subsidiary has run into trouble with some executives allegedly found to be inflating and presenting fabricated sales data for industry-leading dipeptidyl peptidase-4 (DPP-4) inhibitor Galvus (vildagliptin). In swift retaliation, Novartis is believed to have issued marching orders to at least 18 executives and has launched a nationwide probe focused on remedial steps.
According to information shared by well-placed industry sources, officials from mid-management ranks to sales representatives were allegedly involved in the unethical practices. Novartis uncovered the misconduct last month. Galvus franchise executives are now being investigated for allegedly padding invoices and then buying stocks of the diabetes drug from wholesalers with cash rewards that had been doled out as incentives, PharmAsia News has learned. The representatives registered false sales in an effort to match steep sales targets set for them, while in reality, no such heightened demand existed.
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