Novartis reaches US$678 million settlement of US fraud lawsuit

Novartis AG has agreed to pay US$678 million to settle a civil fraud lawsuit in which the U.S. government accused the Swiss drugmaker of illegally providing doctors with cash payments and other perks to induce them to prescribe its cardiovascular and diabetes drugs.

FILE PHOTO: The logo of Swiss drugmaker Novartis is pictured at the French company's headquarters in Rueil-Malmaison near Paris, France, April 22, 2020. REUTERS/Charles PlatiauNEW YORK: Novartis AG has agreed to pay US$678 million to settle a civil fraud lawsuit in which the U.S. government accused the Swiss drugmaker of illegally providing doctors with cash payments and other perks to induce them to prescribe its cardiovascular and diabetes drugs.

The U.S. Department of Justice announced the settlement late on Wednesday to resolve charges that Novartis violated the federal False Claims Act and an anti-kickback statute.

Singapore Latest News, Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Harvey Weinstein's Victims Awarded US$19 million Settlement
Source: TODAYonline - 🏆 1. / 99 Read more »

US seeks to recover another US$96 million in 1MDB-associated assets: statementThe U.S. Department of Justice on Wednesday said it was seeking forfeiture of another US$96 million in assets allegedly associated with the ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

US seeks to recover another US$96m in 1MDB-associated assetsWASHINGTON, DC: The US Department of Justice on Wednesday (Jul 1) said it was seeking forfeiture of another US$96 million in assets allegedly ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

US seeks Warhol, Monet paintings linked to 1MDB scandalWASHINGTON, DC: The US Department of Justice on Wednesday (Jul 1) said it was looking to recover another US$96 million in assets in real estate ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Digital asset security firm Curv raises US$23 millionTEL AVIV: U.S.-Israeli startup Curv, which provides security infrastructure for digital assets, said on Wednesday it raised US$23 million in an ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Carlyle to buy 25per cent of Bharti Airtel's data center arm for US$235 millionCarlyle will buy a 25per cent stake in Indian telecom firm Bharti Airtel Ltd's data center arm for US$235 million, the U.S. private equity group ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »