- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
Ethics and compliance officers in the pharmaceutical industry can learn a lot from the troubles of Novartis, which faced a firestorm of criticism from shareholders at its last annual meeting.
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Novartis will pay nearly $347 million in combined criminal and civil penalty settlements with U.S. authorities to resolve all FCPA investigations into historical conduct by the company and its subsidiaries.
Swiss pharmaceutical drug maker Novartis announced it has set aside $700 million for a potential settlement in a long-running lawsuit over allegations that the company paid hundreds of millions of dollars in kickbacks to doctors to induce them into prescribing drugs to patients to boost their sales.
Novartis this week announced changes to its senior leadership team to support the implementation of its strategic priorities. These changes include the appointment of Shannon Klinger in the elevated and expanded role of chief ethics, risk, and compliance officer, effective April 1.
