STAT Plus: Novartis generic unit to pay $195 million to settle price fixing charges
In the latest fallout from a federal probe into generic drug price fixing, the Sandoz unit of Novartis (NVS) agreed to pay $195 million to resolve criminal charges of conspiring with other manufacturers, the third company to be charged as part of the long-running investigation.
The company, which is one of the world’s largest purveyors of generic medicines, admitted to working with several rivals to set prices for several medicines, including a blood pressure pill, an eczema ointment, and a cystic fibrosis treatment between 2013 and 2015, the Department of Justice said in a statement. Sandoz admitted that sales affected by its activities exceeded $500 million.
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