Novartis CEO Vas Narasimhan announced that $700 million has been set aside in the hope of settling a decade-old lawsuit alleging that the Swiss drugmaker bribed U.S. doctors.
The drugmaker is hoping to avoid trial in a case that began in 2011 as a whistleblower lawsuit filed by a former employee, contending that Novartis paid millions of dollars to doctors so they would prescribe its products, including hypertension treatment Lotrel and diabetes drug Starlix.
Novartis has denied any wrongdoing in the lawsuit.
Read the Reuters coverage