BENSALEM, Pa.--(BUSINESS WIRE)--Law Offices of Howard G. Smith announces an investigation on behalf of Novartis AG (“Novartis” or the “Company”) (NYSE: NVS) investors concerning the Company and its officers’ possible violations of federal securities laws.
On August 6, 2019, the U.S. Food and Drug Administration (“FDA”) issued a statement revealing that data submitted in the Company’s biologics license application (“BLA”) for its gene therapy drug, Zolgensma, had been manipulated. Moreover, it stated that the Company “became aware of the issue of the data manipulation that created inaccuracies in their BLA before the FDA approved the product, yet did not inform the FDA until after the product was approved.” Novartis is currently being investigated by the FDA and may be subject to further penalties.
On this news, Novartis’ share price fell $2.50 per share, or nearly 3%, to close at $88.22 on August 6, 2019, thereby injuring investors.
If you purchased Novartis securities, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact Howard G. Smith, Esquire, of Law Offices of Howard G. Smith, 3070 Bristol Pike, Suite 112, Bensalem, Pennsylvania 19020 by telephone at (215) 638-4847, toll-free at (888) 638-4847, or by email to firstname.lastname@example.org, or visit our website at www.howardsmithlaw.com.
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