Novartis' Alcon Penalized $16M for Illegal Exports to Iran

Source: Handelszeitung (Switzerland)

Aug 31, 2016

Novartis' Texas-based Ophthalmics group Alcon Labs will pay more than $16 million to settle allegations of shipping U.S.-made drugs and medical devices to Iran, Syria and Sudan, despite U.S. trade embargoes.

According to the accusations, Alcon actively tried to keep the actual country of destination a secret by shipping through Switzerland.

As stated in the settlement agreement with the U.S. Department of Commerce, between 2008 and 2011, Alcon exported in 143 cases of medical devices and drugs to Iran and 45 cases to Syria. Between 2008 and 2012, Alcon made more than 400 unlicenses sales to Sudan.

Read the press release (translation required)

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