- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Jaclyn Jaeger2021-10-05T19:26:00
Three pharmaceutical manufacturers—Taro Pharmaceuticals USA, Sandoz, and Apotex Corp.—will pay a total of $447.2 million for alleged violations of the False Claims Act related to price-fixing.
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Drug manufacturer Akorn Operating Company agreed to pay $7.9 million in a settlement with the Department of Justice for continuing to sell three drugs through Medicare when they were no longer covered under the program.
Massachusetts-based biotechnology firm Biogen reached a $900 million agreement in principle to resolve a False Claims Act lawsuit brought by a whistleblower alleging the payment of unlawful kickbacks to physicians.
Taro Pharmaceuticals will pay a $205.7 million criminal penalty to resolve charges as part of the Justice Department’s ongoing investigation into the generic pharmaceutical industry.
German petrochemical parts supplier Aiotec agreed to pay $14.5 million to settle allegations that it engaged in a four-year conspiracy to dismantle and ship a plastics manufacturing plant owned by a U.S. company to Iran, in violation of U.S. sanctions.
Kiromic BioPharma will pay no fine to the Securities and Exchange Commission after self-reporting that it failed to disclose material information about two cancer drugs to investors.
The U.K. Financial Conduct Authority fined the London branch of Australian-based Macquarie Bank Limited more than 13 million pounds (U.S. $16.3 million) for “serious control failures” that allowed a trader to conceal hundreds of fictitious trades over a 20-month period.
