The accusations against the drugmaker allege it violated the U.S. Foreign Corrupt Practices Act by bribing physicians in Greece, Vietnam, South Korea and China. Novartis will pay $234 million to the Department of Justice and $113 million to the Securities and Exchange Commission.
“Novartis AG’s subsidiaries profited from bribes that induced medical professionals, hospitals, and clinics to prescribe Novartis-branded pharmaceuticals and use Alcon surgical products, and they falsified their books and records to conceal those bribes,” DOJ Assistant Attorney General Brian Benczkowski said in a June 25 news release.
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