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Authorities to Raid Novartis Offices Over Fake Drug Data

The company denies it knew about manipulated studies


NovartisLogoAccusations that a major global pharmaceutical giant manipulated data in research studies will lead Japanese regulators to raid its offices.

The report comes from Japanese media sources, which say that Novartis (NVS) is facing scrutiny from the country’s health ministry. The company is alleged to have fabricated data in university studies regarding the effect of its Diovan drug on angina and strokes, AFP notes.

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Reportedly, the studies exaggerated the preventative benefits of the drug for those conditions. If the company did manipulate data in the study to improperly bolster claims of Diovan’s effectiveness, it would have violated Japan’s Pharmaceutical Affairs Act.

An interim report on the investigation is expected to reach health officials next week. Regulators are then expected to send investigators to continue the probe at Novartis facilities.

The company has said that it was unaware of the actions of a former employee who is accused to manipulating data in various research studies about Diovan.

Shares of Novartis rose slightly in Friday morning trading.

Article printed from InvestorPlace Media,

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