Novartis, Former Subsidiary To Pay $345M In 3 Foreign Bribery, Securities Cases

(June 29, 2020, 10:15 AM EDT) -- Novartis AG and a former subsidiary on June 25 agreed to pay $345 million in criminal penalties and disgorgement to resolve criminal and administrative charges that they violated the Foreign Corrupt Practices Act (FCPA) and the Securities and Exchange Act of 1934, 15 U.S. Code § 78m, by paying bribes to health care employees in Greece and Vietnam to buy the companies’ drugs and failing to report those transactions (United States v. Novartis Hellas S.A.C.I., No. 20-538, United States v. Alcon Pte. Ltd., No. 20-539, D. N.J., In the Matter of Novartis AG, Admin. Proc. 3-29835, SEC)....