Novotech’s chairman and chief executive, Anand Tharmaratnam, has issued a strong repudiation of allegations made by the company’s former chief financial officer, Rob Speedie, concerning the workplace culture at the clinical research firm. The response came in a letter dated Tuesday, sent from Novotech’s Singapore office in Raffles Place to the company’s lenders. Novotech is owned by private equity firm TPG Capital.

The allegations, which first appeared in media reports, accused Novotech of fostering an environment marked by binge drinking and drug use across multiple levels of employment. Speedie reportedly made these claims in confidential communications with his workplace lawyer, Leonie Kyriacou, and in a draft affidavit released during his separation negotiations with the firm.

Tharmaratnam dismissed the accusations as baseless and unsubstantiated, emphasizing that they have not been subject to legal examination. He described the claims as “unsworn” and arising from a period of ongoing discussions between Speedie and Novotech regarding his departure. The CEO asserted that the allegations misrepresent the company’s workplace environment, characterizing them as both inaccurate and offensive to the staff.

In his letter, Tharmaratnam reaffirmed Novotech’s commitment to maintaining a “professional, respectful and compliant workplace,” countering Speedie’s depiction of the company as a “drug-fuelled pit.” He also indicated that Novotech is actively considering legal action in response to the allegations.

The controversy surrounding Novotech’s workplace culture comes amidst additional scrutiny of TPG Capital’s Australian operations. Notably, Joel Thickins, head of TPG Australia, was recently involved in a traffic incident in which he allegedly collided with five vehicles and refused two breath tests. The broader context has fueled public interest in the reported disturbances within Novotech.

At this stage, the claims by Speedie remain unverified through formal proceedings, and Novotech continues to deny any misconduct. The company’s lenders have been formally updated on the matter, but further developments or official legal actions have yet to be announced.