A Milan judge has seized 2.3 million euros (2.10 million pounds)from pharmaceutical multinational Novartis <NOVS.S> as part of a fraud investigation, a document seen by Reuters shows. The money has been sequestered from the company's Italian unit Novartis Farma SpA, suspected of selling medicines to hospitals at inflated prices as part of a scheme to fraudulently obtain reimbursement funds from the regional government. Novartis said in a statement it rejected the "groundless" accusations of the Milan prosecutors and had behaved with full transparency.
The pending merger of Pfizer's (PFE) Upjohn unit with Mylan (MYL) is on track to close in the fourth quarter of 2020 as almost all necessary regulatory clearances are in place.
Mylan (MYL) will acquire Aspen Pharmacare's thrombosis business in Europe and expand its complex injectables offering and presence in hospitals.