The head of Italy’s biggest drug company has been asked to pay more than €3 billion as part of a tax inquiry into his business, Ansa news agency reported yesterday.

Alberto Aleotti, 87, is the chief executive of Florence-based Menarini, which is also one of Europe’s largest pharmaceutical companies.

The sum includes unpaid taxes, fines and interest payments, the report said.

Italian authorities last month seized more than €1 billion from Mr Menarini on suspicion of tax fraud linked to a bank in Liechtenstein.

A lawyer for the firm earlier rejected the accusations.

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