Novartis: Sandoz reaches agreement with DoJ

(CercleFinance.com) - Novartis' biosimilar unit Sandoz has reached a resolution with the US Department of Justice (DoJ) concerning an antitrust investigation into the US generic drug market that has lasted over three years.


As part of the deal, Sandoz has agreed to pay 195 million dollars and will enter into a deferred prosecution agreement, meaning that the company will cooperate fully with antitrust regulators. The case relates to instances of misconduct at the company between 2013 and 2015 with regard to certain generic drugs sold in the United States.

Sandoz said it is also in settlement negotiations with the DoJ to resolve potential related claims and is booking a provision of 185 million dollars for this purpose.

In this case, Sandoz allegedly conspired to fix prices for generic drugs, amongst other things.

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