Novartis is the new poster-child of corporate misconduct. In the space of two weeks, Novartis settled domestic False Claims Act and Anti-Kickback violations for $729 million, and settled FCPA violations for foreign bribery for $337 million.
In the domestic False Claims Act and AKS cases, Novartis resolved two separate cases: one for illegal payments made to three foundations used to pay for patients' co-payments in order to increase sales; and another for illegal payments to doctors through a false speaker program which was used to shower physicians with lavish meals, events, gifts and other benefits to induce them to increase prescriptions for Novartis drugs.
In this episode, Michael Volkov discusses the recent FCA and AKS enforcement action against Novartis.
Corruption Crime & Compliance