Novartis is setting aside $700 million to settle allegations that it paid kickbacks to physicians to boost prescription rates of several medications, according to STAT.
The allegations stem from a whistleblower lawsuit filed eight years ago by a former Novartis sales representatives. The U.S. government joined the lawsuit in 2013.
Prosecutors claim that Novaris paid kickbacks in the form of fishing trips, lavish meals and sham speaking events between 2002 and 2011 to persuade physicians to prescribe its drugs.
On an investors call July 18, Novartis CEO Vas Narasaman said it has set aside the money to "resolve legacy compliance-related allegations."
Novartis denies any wrongdoing.
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