Update: Since this story was published Initiative has refuted AdNews' claims that they are no longer in the running for the account. Inova had no comment.
There are three standing in the $15m shoot-out for Inova Pharmaceuticals, AdNews understands.
The account, thought to be worth as much as $15 million, currently sits with IPG's Initiative, but it is thought they are no longer in the running and that Havas, Vizeum and Atomic 212 are still in the ring.
AdNews discovered that INova, which is part of the Valeant Pharmaceuticals International group of companies, was reviewing its media agency options in August.
All those shortlisted have been doing well so far this year with BBC Worldwide Australia and New Zealand recently appointing Vizeum to provide media strategy, planning and buying across the region. The tender process was run over a two month period, with Vizeum successfully winning the account from a competitive shortlist of agencies.
AdNews was unable to reach all agencies for comment.
Have something to say on this? Share your views in the comments section below. Or if you have a news story or tip-off, drop us a line at firstname.lastname@example.org