Novartis’ generics unit, Sandoz, has agreed to pay $195 million to the U.S. Justice Department to resolve antitrust claims.
Last month, a former Sandoz executive pleaded guilty to charges that the company was involved in a price-fixing scheme between 2013-2015. The DOJ’s price-fixing probe has been ongoing for the last three years and includes Teva Pharmaceuticals and Mylan.
As part of the announcement of the DOJ deal, Sandoz president, Carol Lynch, said the company is “resolving historical issues” and working to “continually improve” compliance and training programs.
“We are disappointed that this misconduct occurred in the face of our clear antitrust compliance policies,” Lynch said.
Read the Reuters report.
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