STAT Plus: Novartis sets aside $700 million to settle long-running bribery allegations in the U.S.
Novartis (NVS) has set aside $700 million to settle a long-running lawsuit in which the federal government alleged the drug maker used kickbacks to doctors — including fishing trips, lavish meals, and “sham” speaking events — in order to boost prescriptions of several medicines a decade ago.
A trial had been scheduled to start in federal court in New York this past May. At the time, however, STAT reported the trial was delayed as the company began negotiating with federal prosecutors and Novartis might pay close to $1 billion in order to settle the case.
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