Novartis agrees to pay $729 Million U.S. settlement over kickbacks

02.07.2020 - Kulakov Vladimir
Novartis agrees to pay $729 Million U.S. settlement over kickbacks

Swiss pharmaceutical giant Novartis AG (NVS) has agreed to pay more than $729 Million to settle a lawsuit that accused the company of paying illegal kickbacks to doctors and patients to increase drug sales, the U.S. Department of Justice said on Wednesday.

The Swiss drugmaker would pay $678 Million to resolve accusations of hosting thousands of speaker programs and events to bribe physicians. The U.S. Department of Justice said that several doctors were paid to write thousands of prescriptions for cardiovascular and diabetes drugs from Novartis.

“Novartis paid exorbitant speaker fees to doctors who gave no meaningful presentations and provided expensive meals and alcohol to doctor attendees and their guests,” federal prosecutors in Manhattan said in a statement.

Novartis shares rose by less than 1% to 83.26 Swiss Francs in Zurich trading on Thursday morning.

“Through this settlement and others, the government has demonstrated its commitment to ensuring that drug companies do not use kickbacks to influence the drugs prescribed by doctors or purchased by patients,” Assistant Attorney General Jody Hunt stated.


Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?