Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Novartis Under U.S. Investigation for Tekturna Marketing

Don't Miss Out —
Follow us on:

Jan. 24 (Bloomberg) -- Novartis AG, Europe’s biggest drugmaker by sales, said U.S. prosecutors are investigating the company’s marketing of products including the hypertension medicine Tekturna.

A U.S. unit last year received a subpoena from federal prosecutors in Louisville, Kentucky, seeking documents on sales practices, including payments to health-care providers, for the drug and other medicines, Basel, Switzerland-based Novartis said yesterday in a regulatory filing.

Sales expectations for Tekturna, approved by U.S. regulators in 2007 and called Rasilez overseas, were halved last year by Novartis after the company scrapped a test of the medicine among patients with diabetes because some had more strokes and kidney complications. Revenue from the drug declined 31 percent to $383 million in 2012, Novartis reported yesterday.

Novartis also reported yesterday that in 2012 it received a civil demand for information from the U.S. attorney’s office in Manhattan regarding its interactions with specialty pharmaceuticals concerning products including the cancer medicine Gleevec and Gilenya, a pill for multiple sclerosis. The company also disclosed that U.S. prosecutors in Dallas are investigating its Alcon eye-care unit related to the export of products to Iran and other countries subject to trade sanctions.

The company said it’s cooperating with all the investigations. A spokesman for the U.S. Attorney’s office in Louisville couldn’t be reached after business hours for comment on the Tekturna investigation.

To contact the reporter on this story: Ryan Flinn in San Francisco at rflinn@bloomberg.net

To contact the editor responsible for this story: Reg Gale at rgale5@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.