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The top manager at Novartis is attracting sensitive stock sales



The US Senate wants Novartis now to have more detailed information on data manipulation of the Zolgensma gene therapy. Swiss Fermamulti is threatened with criminal and civil consequences, the BLIC reported last week.

In Novartis, shortly before the discovery of test data manipulation, there was a sensible sale of shares involving a cashier. According to a report by SonntagsZeitung, on July 19 a member of the Executive Committee or CEO sold 10,000 shares of Novartis, earning 92525400 Swiss francs.

On June 28, the Group notified the US Food and Drug Administration that its subsidiary Novartis Avexis was manipulating data from gene therapy research "Zolgen". At the time of the sale of the shares, however, the public did not know about it.

The FDA announced the manipulation

The public was not informed by the FDA until August 6. According to Novartis, the transaction was subject to review and approval, "the relevant person has no material relevant information," a Novartis spokesman told the newspaper.

However, an unnamed major shareholder criticized the sale and the fact that Novartis did not mention the case in its semi-annual report. Zolgensma's baby anti-muscle drug is the most expensive drug in the world at over two million dollars (1.95 million Swiss francs) for a single dose.

The US Department of Health accuses Novartis of not keeping manipulated test data prior to approval. (SDA / uro)


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