NOVARTIS AND SUBSIDIARIES HIT BY MAJOR US FINES OVER CORRUPTION
July 2nd, 2020
Swiss pharmaceuticals giant, Novartis AG, plus a former subsidiary Alcon Pte and its current Greek wing, are together to pay out USD345.9 million in fines to American regulators because of corrupt practices. The penalties follow admissions that staff bribed public and private healthcare providers in Greece and Vietnam to choose Novartis products in breach of the United States Foreign Corrupt Practices Act (FCPA). Current subsidiary Novartis Greece comes off worst with a USD225 million payout for a Greek scheme under a deferred prosecution agreement (DPA) with ...
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