Novartis Hellas S.A.C.I. and Alcon Pte Ltd Agree to Pay over $233 Million Combined to Resolve Criminal FCPA Cases
The Greek subsidiary of Swiss pharmaceutical company Novartis, and a former subsidiary operating in Vietnam (the latter now part of multinational eye care company Alcon Inc.), have agreed to pay a combined total of more than $233 million in criminal monetary penalties to resolve a DOJ investigation into possible FCPA violations. Novartis will also pay over $112 million to the SEC in a related matter. The resolutions arise out of a scheme in Greece to bribe employees of state-run medical facilities to increase sales of Novartis medications, and a similar scheme in Vietnam to to increase sales of the company’s intraocular lenses.
