Novartis responds to bribery allegations in Greece

In a statement responding to allegations that Novartis AG (NYSE:NVS; SIX:NOVN) bribed Greek officials to increase its market access, the Swiss pharma said while it is cooperating fully with Greek and U.S. authorities, the pharma nor any of its associates have "received formal allegations from the authorities, let alone an indictment connected with this investigation."

Media outlets reported that Greek prosecutors are alleging that Novartis made payments to politicians in exchange for fixing artificially high prices for its medicines and increasing the pharma's access to the Greek market. The Greek parliamentary committee is said to be investigating the allegations. Some reports also said U.S. officials have joined the investigation...