Violation Tracker Individual Record

Company: 
Novartis AG
Current Parent Company: 
Novartis
Penalty: 
$25,000,000
Primary Offense: 
Foreign Corrupt Practices Act
Violation Description: 

The Securities and Exchange Commission announced that Novartis AG agreed to pay $25 million to settle charges that it violated the Foreign Corrupt Practices Act when its China-based subsidiaries engaged in pay-to-prescribe schemes to increase sales.

Year: 
2016
Date: 
March 23, 2016
Agency: 
Securities and Exchange Commission
Civil or Criminal Case: 
civil
HQ Country of Parent: 
Switzerland
Ownership Structure of Parent: 
publicly traded
Major Industry of Parent: 
pharmaceuticals
Specific Industry of Parent: 
pharmaceuticals
Source Notes: 
If an online information source is not working, check the Violation Tracker Data Sources page for an updated link.
Parent company note: 
Parent-subsidiary relationship is current as of the most recent revision listed in the Update Log.