Biotest AG: Managers of Italian Subsidiary have been charged with illegal price fixing
Biotest AG / Key word(s): Legal Matter
Biotest: Managers of Italian Subsidiary have been charged with illegal price fixing Dreieich, November 17, 2014. In 2010 the public prosecutor of Naples had initiated investigations against numerous employees of various pharmaceutical companies and institutions and charged them with illegal price fixing. Besides the Director of Administration of the University of Naples and the owner of an Italian pharmaceutical wholesaler now also three managers of Biotest Italia Srl, a 100% subsidiary of Biotest AG, are concerned. Biotest AG is not aware of any of such alleged practices and strongly condemns such methods which are not in line with our Pharma Codex and our compliance rules. According to Biotest Italia Srl the company is closely cooperating with the investigating authorities. Biotest AG has retained an independent audit firm to internally investigate the case. In some media reports about the case it is claimed that Biotest Italia Srl had sold ineffective drugs or preparations without valid market authorization. Biotest decisively rejects as incorrect both claims. The preparations of Biotest are efficacious, safe and fully licensed by the authorities. Disclaimer This document contains forward-looking statements on overall economic development as well as on the business, earnings, financial and assets position of Biotest AG and its subsidiaries. These statements are based on current plans, estimates, forecasts and expectations of the company and are thus subject to risks and elements of uncertainty that could result in significant deviation of actual developments from expected developments. The forward-looking statements are only valid at the time of publication. Biotest does not intend to update the forward-looking statements and assumes no obligation to do so. About Biotest Biotest AG, Landsteinerstr. 5, 63303 Dreieich, www.biotest.de Securities' ID No., ISIN ordinary shares: 522720, DE0005227201 17.11.2014 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.medientreff.de and www.dgap.de |
Language: | English | |
Company: | Biotest AG | |
Landsteinerstraße 5 | ||
63303 Dreieich | ||
Germany | ||
Phone: | 0 61 03 - 8 01-0 | |
Fax: | 0 61 03 - 8 01-150 | |
E-mail: | investor_relations@biotest.de | |
Internet: | http://www.biotest.de | |
ISIN: | DE0005227235, DE0005227201 | |
WKN: | 522723, 522720 | |
Indices: | SDAX | |
Listed: | Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, Stuttgart | |
End of News | DGAP News-Service |
297521 17.11.2014 |