Novartis Units Pay $346M Over US Bribery Claims

Law360 (June 25, 2020, 1:33 PM EDT) -- Current and former subsidiaries of pharmaceutical giant Novartis AG have agreed to pay $345.9 million in penalties and profits over an alleged bribery scheme at hospitals in Greece and improper record-keeping in Vietnam and other countries, U.S. enforcement authorities announced Thursday.

Prosecutors will defer Foreign Corrupt Practices Act charges against Novartis' Greek subsidiary and Alcon Pte. Ltd., a former Novartis unit, under the deals announced Thursday. (AP Photo/Keystone, Steffen Schmidt, File)

Novartis' Greek subsidiary, Novartis Hellas S.A.C.I., will pay a criminal fine of $225 million, according to the U.S. Department of Justice. In exchange, prosecutors will defer Foreign Corrupt Practices Act...

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