SFO steps up probe into Goldshield

THE Serious Fraud Office has stepped up its investigation into Croydon-based drugs firm Goldshield over a suspected conspiracy to defraud the National Health Service.

Ajit Patel, the chief executive of Goldshield who is originally from Kenya, and executive director Kirti Patel have been notified by the SFO that they 'may be required to attend interviews some time between April and June, 2005,' according to a statement to the Stock Exchange today.

Officers from the SFO raided Goldshield offices and the home of Ajit Patel in April 2002 as part of an investigation into six drugs firms at the time over the supply of the blood-thinning drug Warfarin and penicillin-based antibiotics between 1996 and 2000.

Goldshield said today it had not changed its stance, taken then, that 'Goldshield and its executives do not believe that they have acted in an unlawful or improper manner'.

Despite the investigations, criminal charges have yet to be laid against the Patels. Goldshield, in which they have a combined near-15% stake, is also being investigated by health authorities over separate investigations into alleged anti-competitive behaviour.

At the end of 2002 Goldshield was named alongside Regent GM and Norton in a £28m lawsuit by the Department of Health, accusing them of price-fixing over sales of Warfarin to the NHS between 1997 and 2000.

Scottish ministers and health authorities made similar accusations against Goldshield earlier this month and are chasing the firm for £3.3m in damages.