Novartis Coughs Up $25 Million to SEC for China FCPA Violations
Last week, the SEC announced another FCPA settlement involving the pharmaceutical industry for bribery in China. The SEC’s settlement filing represents yet another example of the pharmaceutical industry run amok in China, relying on targeted gifts, meals, entertainment and travel expenditures designed to increase sales of Novartis products in China. Novartis had to cough up $25 million. The Novartis enforcement action, however, provides an important...