Novartis Finalizes Settlement of Speaker Program Litigation in US
02 Luglio 2020 - 1:40AM
Dow Jones News
By Stephen Nakrosis
Novartis AG on Wednesday said it finalized an agreement with the
U.S. Attorney's Office for the Southern District of New York, the
New York State Attorney General, and relator Oswald Bilotta, which
will see it pay a $678 million settlement to resolve "a civil suit
challenging speaker programs and other promotional events conducted
from 2002 through 2011 by Novartis Pharmaceuticals Corp."
As part of the settlement, Novartis said, it "agreed to new
corporate integrity obligations with the Office of Inspector
General of the U.S. Department of Health & Human Services that
will change how the company delivers peer-to-peer programs in the
U.S."
Vas Narasimhan, the company's chief executive, said "Today's
settlements are consistent with Novartis commitment to resolve and
learn from legacy compliance matters."
The company said it fully provisioned for this settlement in
July of last year.
Also on Thursday, Novartis said it finalized a previously
disclosed agreement with the U.S. Department of Justice and the
U.S. Attorney's Office for the District of Massachusetts which will
see it pay $51.25 million "to resolve an investigation related to
the company's support of certain independent charitable co-pay
foundations from 2010 to 2014."
Under the terms of this settlement, the company said, it "agreed
to additional corporate integrity obligations with OIG to further
enhance its controls relating to its interactions with ICCFs."
Novartis said it had provisioned for this settlement.
--Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
July 01, 2020 19:25 ET (23:25 GMT)
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