Novartis, the Swiss pharmaceuticals group, defied the World Health Organisation and some of its corporate peers by ruling out a donation to the poor of vaccines to counter the latest flu pandemic, and saying developing nations or donor nations should cover the costs.

Daniel Vasella, Novartis chief executive, told the Financial Times that he would consider offering discounted pricing to low-income nations, but unlike other drug companies, including GlaxoSmithKline, would not offer vaccines for free. He said: “If you want to make production sustainable, you have to create financial incentives.”