The settlements with Novartis represent the second time the drugmaker has been fined for alleged foreign bribery-related offenses. The latest investigations into Novartis by U.S. authorities began in 2016, according to Novartis. The Novartis business for Greece agreed to pay a criminal penalty of $225 million, while its parent company agreed to pay more than $112 million in disgorgement and interest, representing the amount of illicit profits. The Alcon subsidiary will pay a criminal penalty of about $8.9 million, the Justice Department said. Novartis in 2016 agreed to pay $25 million to settle claims by the SEC that it violated the FCPA by engaging in pay-to-prescribe schemes in China.

Source: Wall Street Journal June 25, 2020 18:45 UTC