In record-setting settlement, Novartis’ Sandoz unit admits guilt in conspiracy to fix prices
Becoming the largest drugmaker to plead guilty in a wide-ranging Justice Department generics probe, Novartis admitted to price-fixing charges and agreed to a record-setting settlement.
Novartis’s generics unit, Sandoz, has agreed to pay $195 million to settle criminal charges that from mid-2013 through mid-2015 it conspired with competitors to artificially inflate drug prices on critical medicines. The company admitted guilt and said the conspiracy affected over $500 million in sales. The fine is the largest ever paid out in a domestic antitrust agency, the Justice Department said.
Unlock this article instantly by becoming a free subscriber.
You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.
