Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Novartis To Defend Itself In Two US Government Lawsuits - Quick Facts

Novartis Pharmaceuticals Corp. (NPC) disputes the allegations made by the US Attorney's Office or USAO for the Southern District of New York SDNY in two complaints filed this week and will defend itself in these litigations.

"We disagree with the way the government is characterizing our conduct in both of these matters and we stand behind our Compliance program," said Andre Wyss, President, Novartis Pharmaceuticals Corporation and President, Novartis Corporation.

The company said that the first suit pertains to a previously disclosed investigation into discounts and rebates to specialty pharmacies for Myfortic®.

NPC believes this suit is a significant expansion of the Anti-Kickback Statute that is inconsistent with law and policy in this area, and threatens to undermine pharmaceutical company discounting practices that benefit both consumers and payers, including the Government.

Click here to receive FREE breaking news email alerts for Novartis AG and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Swiss drug maker Roche Holding said a late-stage trial of its breast cancer drug Kadcyla did not provide superior results compared with an existing therapy. FCA US, until recently known as Chrysler, said Friday it is recalling 257,000 Dodge Ram pickups. The auto maker says the rear axle pinion nut on certain model year 2005 Dodge Ram 1500 trucks may loosen due to an undersized spline on the pinion gear. If the pinion nut loosens, the rear axle may... This medical device company has a very impressive track record of growing business over the past decade. increasing sales from $490.2 million in 2004 to $1.72 billion this year. The Silicone Hydrogel daily disposable lens portfolio constitutes a major avenue for growth.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.