Get Even More Visitors To Your Blog, Upgrade To A Business Listing >>

Novartis, former unit to pay $346 million to resolve US bribery charges


Swiss drugmaker Novartis' logo is seen in Stein


(Reuters) - Novartis AG and a former unit will pay more than $346 million to resolve U.S. criminal and civil charges they bribed doctors, hospitals and clinics to prescribe their drugs and use their surgical products, U.S. authorities announced on Thursday.


The U.S. Department of Justice said Novartis Hellas, a Greece-based unit, will pay a $225 million criminal penalty and entered a Deferred Prosecution Agreement.


Alcon Pte, a former Novartis unit that is now part of Alcon AG , will pay an $8.9 million criminal penalty and entered its own deferred prosecution agreement.


Novartis will also pay $112.8 million to settle related civil charges by the U.S. Securities and Exchange Commission.


(Reporting by Jonathan Stempel in New York)




READ MORE (Yahoo Finance)


  • Novartis Units to Pay $347 Million to Resolve US Bribery ProbeYahoo Finance
  • Swiss drug company Novartis settles with DoJ, SEC in case brought under Foreign Corrupt Practices ActMarketWatch
  • Novartis to pay ~$113M to settle SEC charges of FCPA violationsSeeking Alpha
  • Alcon : Novartis, former unit to pay $346 million to resolve US bribery chargesmarketscreener.com
  • SEC Charges Novartis AG with FCPA ViolationsStockhouse
  • Novartis Resolves Legacy FCPA InvestigationsStreetInsider.com


This post first appeared on The 5th News, please read the originial post: here

Share the post

Novartis, former unit to pay $346 million to resolve US bribery charges

×

Subscribe to The 5th News

Get updates delivered right to your inbox!

Thank you for your subscription

×