- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
Novartis has issued a response concerning ongoing corruption investigations by both Greek and U.S. authorities.
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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.
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.
A subsidiary of McKinsey & Co. will pay nearly $123 million to the Department of Justice to settle allegations that it bribed officials in South Africa to win consulting contracts.
