Novo Nordisk reprimanded in U.K. for failing to disclose payments to health care sector [Globe and Mail, The (Toronto, Canada)]
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Pfizer, Inc. (PFE)
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Source: Globe and Mail, The
increase has been reprimanded by U.K. regulators for failing to disclose fees and expenses paid to individuals and organizations in Britain amounting to about £7.8-million ($9.97-million) between 2020 and 2022. The U.K. industry body Prescription Medicines Code of Practice Authority (PMCPA) said on Friday that the reprimand followed a voluntary submission by Novo about the payments, which related to more than 150 different bodies and included fees and expenses to health professionals and sponsorship and other payments to health care organizations. Novo, whose valuation has soared following the success of its diabetes drug Ozempic and weight loss treatment Wegovy, said on Friday that it had made the voluntary admission in 2023 after it found historical payments that had not been disclosed. “These payments are for legitimate activities but had been incorrectly categorized in finance systems as a result of human error,” the company said in a statement. “We accept the PMCPA's dec
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