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

Editors Pick
The Chinese economy logged its weakest expansion since early 2009 in the third quarter as slowdown in investment, particularly in the property sector, continued to drag the recovery. Gross domestic product grew 7.3 percent in the third quarter from a year ago, slower than the 7.5 percent expansion seen a quarter ago, the National Bureau of Statistics reported Tuesday. Apple Inc. said Monday that its fourth quarter profit rose 13% from last year, driven by strong sales of its iPhones and Mac computers. The company's quarterly earnings per share also came in above analysts' expectations as did its quarterly sales. At the same time, the company gave an upbeat revenue forecast for the current quarter, which includes the all important holiday season. Stocks moved notably higher over the course of the trading day on Monday, extending the strong upward move seen last Friday. The gains on the day continued the recent recovery by the markets, with the Nasdaq and the S&P 500 closing higher for the third consecutive session.
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.