Novartis to Pay $49M for Alleged Korean Bribes

Apr 27, 2017

The Korea Times

Novartis has been fined about $49 million and given a six-month suspension of insurance benefits on nine of its medicines for allegedly bribing doctors, according to an article in The Korea Times.

The Ministry of Health and Welfare took punitive measures against Novartis, which is charged with offering 2.59 billion won to doctors from January 2011 to January 2016 in return for drug prescriptions, the story said.

Prosecutors indicted six Novartis executives on those charges last year, and the trial is currently underway.

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