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More Trouble For Novartis AG (NVS) As Offices Are Raided In Italy Flu Vaccine Probe


6/23/2014 6:29:45 AM

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Novartis AG (NOVN)’s offices in Italy were searched by authorities seeking information on the pricing of two influenza vaccines, adding to the Swiss drugmaker’s woes in the country.

Italian police searched two of the company’s sites as part of a probe into possible fraud related to the purchase of the vaccines by the Health Ministry, one for a pandemic in 2009, according to an e-mailed statement from the police. The police allege Novartis inflated the cost of an additive to the vaccines, known as MF59, by six-fold.

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