The accusations against the drugmaker allege it violated the U.S. Foreign Corrupt Practices Act by bribing physicians in Greece, Vietnam, South Korea and China. Novartis will pay $234 million to the Department of Justice and $113 million to the Securities and Exchange Commission.
“Novartis AG’s subsidiaries profited from bribes that induced medical professionals, hospitals, and clinics to prescribe Novartis-branded pharmaceuticals and use Alcon surgical products, and they falsified their books and records to conceal those bribes,” DOJ Assistant Attorney General Brian Benczkowski said in a June 25 news release.
More articles on pharmacy:
Sanofi expedites its vaccine timeline, strikes $2.3B deal with Translate Bio
FDA urged to increase safety warnings on common diabetes drug
CVS to open 200 more drive-thru COVID-19 testing sites
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
