- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
Novartis is facing a fresh bribery probe, this time in Greece, where authorities there have raided the company’s offices searching for electronic documents and files. Jaclyn Jaeger reports.
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Novartis will pay nearly $347 million in combined criminal and civil penalty settlements with U.S. authorities to resolve all FCPA investigations into historical conduct by the company and its subsidiaries.
Swiss pharmaceutical drug maker Novartis announced it has set aside $700 million for a potential settlement in a long-running lawsuit over allegations that the company paid hundreds of millions of dollars in kickbacks to doctors to induce them into prescribing drugs to patients to boost their sales.
Ethics and compliance officers in the pharmaceutical industry can learn a lot from the troubles of Novartis, which faced a firestorm of criticism from shareholders at its last annual meeting.
