Novartis unit Sandoz agrees to pay US$195m to resolve antitrust charges

Novartis unit Sandoz agrees to pay US$195m to resolve antitrust charges

FILE PHOTO: Logo is seen at new factory of Novartis in Stein, Switzerland
FILE PHOTO: The company's logo is seen at the new cell and gene therapy factory of Swiss drugmaker Novartis in Stein, Switzerland. REUTERS/Arnd Wiegmann

WASHINGTON: Novartis unit Sandoz has agreed to pay US$195 million to reach a deferred prosecution agreement aimed at resolving antitrust charges, the Justice Department said on Monday (Mar 2).

The probe covers 2013-2015, said the department, which has been probing the generic drug industry for three years.

US drug pricing has become a political issue in recent years amid complaints that some drugs, including medicines on the market for decades, have seen sharp price increases.

Last month, a former Sandoz executive pleaded guilty to participating in the scheme to push up drug prices.

"In reaching today’s resolution, we are not only resolving historical issues but also underscoring our commitment to continually improving our compliance and training programs," said Sandoz President Carol Lynch in a statement. 

"We are disappointed that this misconduct occurred in the face of our clear antitrust compliance policies and multiple trainings."

Source: Reuters/de

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