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AP Photo/Julio Cortez
Authorities in New Jersey are investigating a house fire at the residence of a pharmaceutical executive as a potential arson.
The fire at the Madison, N.J., residence home was reported to authorities on the morning of March 4, the Morris County Prosecutor’s Office told PEOPLE.
The home was “occupied” at the time, but it wasn’t clear how many people were inside. No significant damage or injuries were reported in the incident.
The residence belongs to an executive at Bayer, the German pharmaceutical company valued at nearly $50 billion which makes medicines such as Aleve and Aspirin.
A company spokesperson confirmed to PEOPLE that the residence belongs to one of Bayer’s U.S. executives.
“The safety and security of our employees are of utmost importance to Bayer,” the spokesperson said in a statement. “The company is cooperating fully with the investigation.”
The Morris County Prosecutor’s Office confirmed to PEOPLE the fire is being investigated as arson.
The FBI, which is also investigating the fire, declined to comment on the matter.
Bayer did not release any further information on the executive who owns the residence.
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Police have not commented on whether it is believed to have been a targeted attack, but the alleged arson took place three months to the day after the fatal shooting of UnitedHealthcare CEO Brian Thompson in New York.
Thompson was shot dead by a masked gunman outside a Manhattan hotel, which federal authorities now believe served as "inspiration" for those with financial grievances "targeting federal, state and local government officials," according to a Homeland Security report cited by ABC News.
The suspect in Thompson's shooting, Luigi Mangione, has been charged with murder by federal and state authorities in New York, the latter of which accuses him of committing an act of terrorism. He's pleaded not guilty to the state charges.