Chiron Corp. on Tuesday said regulators have decided not to sanction the company following a probe into the suspension of its flu vaccine license and the restatement of past financial results.
The Securities and Exchange Commission terminated its investigation and no enforcement action has been recommended against the company, Chiron said.
The company’s troubles began in 2004 when the U.K. Medicines and Healthcare Products Regulatory Agency unexpectedly suspended Chiron’s license to manufacture the Fluvirin flu vaccine because of contamination concerns.
The resulting shortage caused Chiron to revise its results for the second and third quarters of 2004 and left the United States with half its needed supply for the critical winter months of the flu season.