Novo Nordisk To Pay $18M In Oil-For-Food Cases

Law360 (May 11, 2009, 12:00 AM EDT) -- Denmark-based Novo Nordisk A/S has agreed to pay more than $18 million for allegedly paying illegal kickbacks to the former government of Iraq, the U.S. Department of Justice and U.S. Securities and Exchange Commission announced Monday.

The pharmaceutical company agreed to pay a $9 million penalty as part of a deferred prosecution agreement in the Oil-for-Food case, the DOJ said Monday.

Novo's deal with the SEC calls for it to pay $3.025 million in civil penalties and about $6 million in disgorgement of profits, including prejudgment...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.