Three executives of Italy's biggest Big Pharma Recordati were arrested on Monday as part of an investigation into possible bribes to doctors to encourage them to prescribe the firm's drugs, triggering a slide in its shares.
Tax police did not name the three executives in a statement, but Recordati said separately the general manager of the pharmaceuticals division, Vittorio Bonazzi (pic), was among them, adding he had resigned from his job.
"The issues in question have no impact on the continuity of the company's business, nor do they affect the outlook in respect to the previously announced targets," the company said.
Recordati, Italy's biggest listed pharmaceutical firm with sales of over 570 million euros in 2005, is known for its lercanidipine drug, used for the treatment of hypertension.
Tax police said another 31 people -- company employees, doctors and a pharmacist -- were also under investigation and that they were considering including Recordati in the probe.
Doctors were offered cash or gifts such as mobile phones, computers and laptops if they agreed to prescribe selected drugs to a large number of of patients, according to the investigation's findings.
Insider's view: Italian Big Pharma will be sweating. It all now depends upon whether Vittorio sticks to the rule of omerta!
Source: Reuters
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