Novartis reaches $678 million settlement of U.S. fraud lawsuit

REUTERS

Novartis AG has agreed to pay $678 million to settle a civil fraud lawsuit in which the U.S. government accused the Swiss drugmaker of illegally providing doctors with cash payments and other perks to induce them to prescribe its cardiovascular and diabetes drugs.

The U.S. Department of Justice announced the settlement late on Wednesday to resolve charges that Novartis violated the federal False Claims Act and an anti-kickback statute. read more »

SEC Charges Alexion Pharmaceuticals With FCPA Violations

SEC

The Securities and Exchange Commission today announced that Boston-based pharmaceutical company Alexion Pharmaceuticals Inc. has agreed to pay more than $21 million to resolve charges that it violated the books and records and internal accounting controls provisions of the Foreign Corrupt Practices Act. read more »

U.S. Seeks to Recover Approximately $96 Million Traceable to Funds Allegedly Misappropriated from Malaysian Sovereign Wealth Fund

DOJ

The Justice Department announced today the filing of civil forfeiture complaints seeking the forfeiture and recovery of approximately $96 million in assets allegedly associated with an international conspiracy to launder funds misappropriated from 1Malaysia Development Berhad (1MDB), a Malaysian sovereign wealth fund.  Combined with earlier civil forfeiture complaints filed begining in July 2016, the United States has sought the forfeiture of more than $1.8 billion in assets traceable to funds embezzled from 1MDB. read more »