Novartis: 350 million dollars to settle US investigation
(CercleFinance.com) - Novartis announced on Friday that it would pay nearly 350 million dollars (310 million euros) to close investigations in the United States on suspicions of corruption, particularly concerning its activities in Greece.
Under the terms of the agreement, the Swiss laboratory has agreed to pay a fine of 233.9 million dollars to the US Department of Justice (DoJ).
The group has also agreed to pay 112.8 million dollars under a separate agreement with the SEC, the US stockmarket regulator.
The group says the agreement with the DoJ acknowledges that there are inappropriate economic benefits provided to Greek healthcare professionals between 2012 and 2015 relating to Lucentis, a drug for macular degeneration.
However, Novartis denies allegations of bribes paid to Greek politicians.
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