INVESTOR ALERT: Law Offices of Howard G. Smith Announces Investigation of Novartis AG (NVS) on Behalf of Investors

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’s possible violations of federal securities laws.

On May 5, 2022, Novartis "announced a temporary, voluntary suspension of production at its radioligand therapy production sites in Ivrea, Italy and Millburn, New Jersey." The production halt was to "address potential quality issues identified in its manufacturing process."

On this news, Novartis’ stock fell $2.06, or 2.3%, to close at $86.21 on May 5, 2022, thereby injuring investors.

Then, on May 31, 2022, STAT News published an article entitled "Documents show problems at Novartis facility where cancer drug production was halted." The article reported that the U.S. Food and Drug Administration had cited deficiencies at the Company's New Jersey facility following an inspection in late 2021, including a "concern that Novartis failed to notify customers about batches of Lutathera . . . that were distributed despite failing to meet quality specifications."

On this news, Novartis’ stock fell sharply during intraday trading on May 31, 2022, thereby injuring investors further.

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 [phone], toll-free at [phone], or by email to [e-mail], or visit our website at www.howardsmithlaw.com.

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