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Novartis: pays 729 million dollars to resolve US litigations

(CercleFinance.com) - Novartis will pay 678 million dollars to finalise a settlement with the US Government, the Swiss drugmaker announced on Thursday.


The civil suit concerned speaker programs and other promotional events conducted by its US unit from 2002 until 2011, the group said.

In a statement, Novartis noted that it has enhanced its peer-to-peer medical education programs since 2011, now meeting the demand from the industry and investors.

The company fully provisioned for this settlement in July 2019.

The biopharmaceutical company said it will also pay 51.25 million dollars to settle another litigation relating to its support of certain independent charitable co-pay foundations, between 2010 and 2014.

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