Danish drug giant found to have failed to accurately report spending even after admitting to errors. The pharmaceutical watchdog has reprimanded Wegovy maker Novo Nordisk for failing to correctly disclose dozens of payments to the UK health sector as it sought to boost sales of its slimming drugs.
The Danish drug giant – Europe’s most valuable listed company – systematically misreported, under-reported or did not disclose funding given over seven years to pharmacy firms, obesity charities, training providers, professional bodies and patient groups.
Even after admitting to errors and conducting an internal review, it failed to accurately report its spending. The company has now been formally reprimanded by the Prescription Medicines Code of Practice Authority (PMCPA), which said it had brought the industry into disrepute.
Finding 48 breaches of the industry code, it said serious compliance failings – committed while Novo Nordisk was already the subject of an audit after previous breaches – “raised questions about the culture of the company and demonstrated poor governance and a lack of care”.
It said that “by failing to publicly disclose payments, inaccurately reporting and misreporting payments to healthcare organisations and patient organisations over an extended period of time”, it “had brought discredit upon, and reduced confidence in, the pharmaceutical industry”.
