Posted on 29/06/2009 in Pharmaceutical Company Product News Novo Nordisk is pleased to settle a case regarding the company's sales to Iraq under the United Nations Oil-for-Food programme.
The issue was concerning the business' actions from 2000 to 2003 and now the firm has been ordered to pay back previous profits amounting to 30 million Danish kroner (3.4 million pounds).
Investigations have been completely concluded and Novo Nordisk asserted it had fully cooperated with the proceedings.
Lars Rebien Sorensen is the company's president and chief executive officer and noted the business has admitted its mistake in connection with the programme.
"That is regrettable and we are doing what we can to prevent future similar situations," he said.
In conclusion, Mr Sorensen asserted the firm is pleased to leave the issue behind.
Earlier this month, Novo Nordisk published results of its Lead 6 Study in the Lancet journal.
It was an investigation to compare liraglutide, which is being explored for its potential to treat type 2 diabetes, with exenatide ? a product currently marketed as a GLP-1 receptor agonist. Other news stories from 29/06/2009
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