Novartis Bribery Allegations On Three Continents in One Year…
“…the worst (bribery scandal) since the creation of the modern Greek state almost 200 years ago”…
In 2018 Switzerland based global pharmaceutical giant, Novartis, faced allegations and a billion-dollar lawsuit in regards to claims of bribery and corruption with lavish meals and kickback money to doctors in the United States, money laundering through funding fake academic activities in China, and to what some have said is “…the worst (bribery scandal) since the creation of the modern Greek state almost 200 years ago”, by bribing 10 of the country’s top politicians.
Is Novartis guilty of bribery, aggressive marketing tactics, or just not updating its marketing practices with the times? Seemingly, the three similar allegations paint a pattern of behavior that indicates a business strategy at play, or is it a coincidence of events?
Without further information, it is prudent to assume this may be a common practice patterned behavior throughout the industry.
In 2016 Novartis agreed to a $25 million settlement to charges it violated the Foreign Corrupt Practices Act, making illegal payments to health care providers in China. This lawsuit is similar to allegations that have been brought forth in a US civil case.
Valued at roughly $33bn, Novartis is the fourth largest player in the global pharmaceuticals business, whose products are sold in over 155 countries, reaching nearly 1 billion consumers worldwide. About 126,000 people of 145 nationalities work at Novartis around the world.
Latest posts by Brad Fredricks (see all)
- Billionaire Does Not Survive Capitalism.. Dies During Penis Enlargement Surgery… - March 8, 2019
- Are the United States, Energy & Banking Industry Colluding to Create Humanitarian Crisis for Worlds Largest Proven Oil Reserves?.. - February 27, 2019
- Novartis Bribery Allegations On Three Continents in One Year… - February 25, 2019