Novo Nordisk To Pay $100M To Settle Investor Class Action
By Sarah Jarvis (September 24, 2021, 7:26 PM EDT) -- Novo Nordisk announced Friday that it has reached a $100 million settlement in an investor class action alleging the Danish pharmaceutical giant boasted about its finances while concealing a scheme to pay kickbacks to pharmacy benefit managers to get its insulin drugs on stores' recommended product lists.
Novo Nordisk announced it reached an agreement in principle to settle the suit, which was brought by a group of pension funds in New Jersey federal court. The company said it reached the settlement after a mediation process, noting the deal contains no admission of liability, wrongdoing or responsibility.
The company said in its...
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