Illegal rebate charges could prompt Novartis Korean ban; report
Swiss pharma giant Novartis (NOVN: VX) could face a South Korean sales ban over the actions of staff at its subsidiary in the Asian country.
Prosecutors there have asked the government to suspend operations of Novartis Korea following the charging of several executives, including the domestic unit’s president, with offering illegal rebates, reports the Financial Times. In total, as many as 34 people were implicated, among them doctors and the heads of five medical journals.
The Seoul western district prosecutors’ office claimed that Novartis offered kickbacks to doctors who attended seminars and other events hosted by the medical journals.
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