Novartis AG Slashes Executives' Pay Amidst Japan Studies Scandal
Published: Oct 04, 2013
To what extent the Diovan scandal in Japan will hurt Novartis remains unclear, but one executive concedes that the mess is not going to burnish the corporate reputation. The acknowledgement comes after a government panel earlier this week found the drugmaker may have violated Japanese law by using faulty data to promote its widely used heart drug, an offense that could lead to various penalties. In his second set of public remarks in the past week, David Epstein, who heads the Novartis pharmaceutical business, again apologized and also noted Diovan sales have fallen in Japan.
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