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| Article Title | Sentiment | Date | Summary | Stock | Id | Author |
|---|---|---|---|---|---|---|
| Article Title | Sentiment | Date | ||||
| Novartis fined $422.5M in marketing, kickback case | -15 | 2010-09-30 00:00:00 | Novartis trained and rewarded sales reps for off-label marketing, the information said. Federal prosecutors do not allege any patients were harmed by the off-label marketing. Prosecutors allege Novartis marketed the drug off-label from July 2000 through at least June 2004. "Off-label marketing ... can undermine the doctor-patient relationship. "Novartis will also pay $237.5 million to resolve civil liabilities over the kickbacks and the off-label marketing of Trileptal, an anti-epileptic medicine, according to a settlement agreement. | NVS | {"Kathy Matheson"} | 71 |
| Novartis Ordered to Pay $250 Million in Gender Bias Suit | -19 | 2010-05-20 00:00:00 | The drug maker Novartis must pay $250 million in punitive damages for discriminating against thousands of female sales representatives over pay, promotion and pregnancy, a federal jury ruled on Wednesday. The $250 million in punitive damages is 2.6 percent of the company’s $9.5 billion 2009 revenue. The women had sought from $190 million to $285 million. In the first part of its ruling, the jury awarded $3.3 million in compensatory damages to 12 of the women who testified. “We are disappointed that Novartis has engaged in discriminatory practices against women and mothers,” Ms. Evans added. | NVS | {} | 72 |
| Novartis Sued by U.S. for Fraud Over Payments to Pharmaci | -40 | 2013-04-24 00:00:00 | Novartis AG was sued by the U.S. for alleged health-care fraud, saying the company paid kickbacks to pharmacies for switching transplant patients to its drug Myfortic. The U.S. claims that, from 2005 until the present, Novartis offered kickbacks to pharmacies that agreed to convince doctors to switch patients to Myfortic. Kickback ClaimsMyfortic is an immunosuppressant drug used to help prevent organ rejection in kidney transplant patients. In a statement yesterday, Bharara called Novartis “a repeat offender,” saying the company had settled kickback claims less than three years ago. Novartis said in a statement yesterday that it disputes the government’s allegations and will defend itself in the case. | NVS | {"Bob Van Voris"} | 496 |
| Novartis sued in Calif. over kids' cough medicine | -16 | 2008-03-13 18:50:25+00 | The lawsuit was brought by Kelly Carter, who dosed her 4-year-old son with Triaminic Daytime Cough & Cold in 2007. The lawsuit alleges that Americans spend more than $2 billion annually on over-the counter cough and cold remedies for children. As a result, Novartis "either knew ... or reasonably should have known that their cough and cold products were ineffective and dangerous when used by children under the age of six," the lawsuit said. A Novartis spokeswoman said the company had not seen the lawsuit and had no comment on it. The company, which recalled Triaminic oral infant cough and cold medicines late last year, said it believed the lawsuit is the first to bring claims involving the drugs. | NVS | {"Reuters Editorial"} | 497 |
| Novartis Replaces Japan Unit Head Amid Clinical Trial Probe | -25 | 2014-04-03 00:00:00 | Novartis Japan said in October it would set up an outside committee to advise on governance, tighten the process of funding trials and hold seminars internally for prevention. Novartis has faced a string of other difficulties in Japan, including improper involvement in independent studies on hypertension drug Diovan and cancer treatment Tasigna. In January, Novartis Japan said its sales staff were involved in a doctor-led study using leukemia drug Tasigna and that it had hired a third party for investigation. Novartis is having its activities since 2011 reviewed by a third party to search for similar problems and will temporarily suspend supporting independent studies, it said. Kosche has been with Novartis since 2001 as head of group strategic planning, the company said. | NVS | {"Kanoko Matsuyama"} | 643 |
| Novartis Quarterly Profit Misses Estimates Amid Alcon Woes | -9 | 2016-01-27 00:00:00 | Shares of Novartis fell by the most in four months. Sales at Alcon, which Novartis acquired for about $41.2 billion in 2010-11, fell 13 percent in the quarter to $2.3 billion. Novartis will also accrue one-time restructuring costs of $1.4 billion that will be spread over a five-year period. For 2016, Novartis forecast that sales and core operating income would be largely unchanged from last year on a constant exchange rate basis. In other changes, Vas Narasimhan was appointed global head of drug development and Andre Wyss was appointed president of Novartis Operations. | NVS | {"Johannes Koch"} | 705 |
| Novartis Said to Hold Talks to Buy Generics Maker Amneal | -7 | 2016-11-13 00:00:00 | No final decision has been made and talks could still fall apart or closely held Amneal could attract other suitors, the people said. Novartis’s Sandoz unit got a U.S. Justice Department subpoena in March requesting documents related to marketing and pricing of copycat medicines. Novartis and Amneal may reach an agreement soon, the people said, asking not to be identified because the deliberations are private. You will now receive the Markets newsletter Pursuits What to eat, drink, wear and drive – in real life and your dreams. You will now receive the Politics newsletter Markets Your daily must-read for the most important news in markets. | NVS | {"More Stories James Paton","James Paton","More Stories Ed Hammond","Ed Hammond","Manuel Baigorri","More Stories Manuel Baigorri"} | 1046 |
| Novartis Accused of Paying Kickbacks for Exjade Sales | -34 | 2014-01-09 00:00:00 | Separately, federal and state officials announced that the Elmsford, New York-based specialty pharmacy agreed to pay $15 million to resolve the claims against it. A Novartis AG unit was accused by the U.S. and a group of states of paying kickbacks to a specialty pharmacy to boost sales of Exjade, an iron-control drug that can cause kidney and liver failure. Federal and state officials alleged that government health programs Medicare and Medicaid paid tens of millions of dollars in reimbursements based on false claims for the drug. “This arrangement between Novartis and BioScrip was dangerous for patients and is against the law,” New York Attorney General Eric Schneiderman said in a statement. The case is ABC v. DEF, 1:11-cv-08196, U.S. District Court, Southern District of New York (Manhattan). | NVS | {"Christie Smythe"} | 882 |
| Novartis Likely To Get Clean Chit After Turkey Bribery Probe Reveals No Wrongdoing | -20 | 2016-04-01 12:28:25+00 | An initial probe into bribery allegations against the Turkish unit of Swiss drugmaker Novartis has not revealed any wrongdoing, Turkey's health ministry reportedly said Friday. The full results of the investigation would be revealed next week, according to local media reports. Dismissing the complaints as unfounded, Novartis said Friday that the allegations were based on a past complaint. Reuters reported this week that an anonymous whistleblower had accused the company of paying bribes through a consulting firm. Novartis is currently being investigated by the U.S. and South Korean authorities in similar investigations. | NVS | {} | 883 |
| Novartis to pay $390 million in U.S. settlement over pharmacy kickbacks | -18 | 2015-11-20 20:12:09+00 | In the settlement, Novartis admitted to a series of facts detailing its relationship with specialty pharmacies and how the alleged scheme worked. Prosecutors say that Novartis selected certain specialty pharmacies to be part of a closed distribution network called EPASS, which was used to fill prescriptions. Novartis agreed in principle to pay $390 million to settle U.S. allegations that it used kickbacks to speciality pharmacies to push sales of some... REUTERS/Arnd Wiegmann - RTX1TGEFWASHINGTON Novartis Pharmaceuticals Corp will pay $390 million to settle U.S. charges that it paid specialty pharmacies illegal kickbacks in exchange for inducing patients to refill certain medications, according to an accord announced Friday. "Specialty pharmacies typically dispense medications that are more costly, or require special handling. The company said it is implementing new controls to help strengthen its arrangements with specialty pharmacies, and that it is "committed to high standards of ethical business conduct. | NVS | {"Sarah N"} | 1119 |
| Novartis pays $370M for drug-pushing scheme | -13 | 2015-11-20 00:00:00 | Novartis pressured the pharmacies by threatening to terminate or reduce its relationship with them, according to Novartis' statement of admission. Specialty pharmacies focus largely on medications for people with serious conditions such as cancer, organ transplants, or HIV/AIDs. Drug maker Valeant, for example, recently cut ties with Philidor Rx Services amid questions about the specialty pharmacy's business operations. Bharara's office said Novartis' scheme, which started in 2007, involved two drugs, including Exjade, which is used to reduce iron overload in patients who are receiving long-term blood transfusions. In January 2008, for example, specialty pharmacy Accredo provided Novartis with a call template that the nurse at Accredo would follow to cajole patients to take Exjade, according to Novartis' statement of admission. | NVS | {"Kaja Whitehouse","Est November","P M"} | 1120 |
| Italy Fines Novartis and Roche in Collusion Case | -20 | 2014-03-06 00:00:00 | The Italian case could have wider ramifications if other European Union member states or the union’s antitrust authorities began their own investigations. The Italian antitrust investigation, which dates to February 2013, started after complaints were filed by a group of private hospitals and the Italian Ophthalmologic Association. A Lucentis injection costs about €900 in Italy, according to the antitrust authorities, while an off-label injection of Avastin costs €81 at most. But European Union rules take into account only the on-label use of medicines, so such a case would presumably be outside of the bailiwick of the union’s antitrust officials. Genentech began developing Lucentis, or ranibizumab, in 2000 as a treatment for age-related macular degeneration. | NVS | {"David Jolly"} | 1121 |
| Italy Fines Novartis, Roche $251 Million Over Eye Drug | -19 | 2014-03-05 00:00:00 | Novartis must pay 92 million euros and Roche 90.5 million euros, the agency said. ‘Unethical Tactics’The practices cost Italy’s health system more than 45 million euros in 2012 alone, with possible future costs of more than 600 million euros a year, according to the Italian regulator. Italy’s antitrust regulator fined Novartis AG and Roche Holding AG 182.5 million euros ($251 million) for allegedly colluding to prevent the use of Roche’s Avastin cancer drug as a treatment for an eye disease. Lucentis “was designed to act specifically in the eye,” Roche said in a statement. Roche markets the drug in the U.S. while Novartis sells it in the rest of the world. | NVS | {"Eva Von Schaper"} | 1122 |
| Novartis to Settle SEC's China Bribe Case for $25 Million | -17 | 2016-03-24 00:00:00 | A state-led campaign to slash drug prices has triggered a further slowdown in China sales growth for global drugmakers. The company’s payment includes $2 million in a civil penalty and $1.47 million in interest, according to the order posted on the SEC’s website. The majority of health-care professionals in China work at government-run public hospitals. Novartis AG said it agreed to pay $25 million to settle a U.S. Securities and Exchange Commission case that claimed the Swiss drugmaker paid bribes to health professionals in China to increase sales from 2009 to 2013. The SEC issued a cease-and-desist order late Wednesday saying Novartis submitted a settlement offer and the agency has accepted it. | NVS | {"Natasha Khan","More Stories Natasha Khan"} | 1123 |
| U.S. Seeks $3.3 Billion From Novartis in Drug Kickback Suit | -24 | 2015-07-01 00:00:00 | The U.S. is seeking as much as $3.3 billion from Novartis AG in a suit claiming the company paid kickbacks to increase sales of two prescription drugs. You will now receive the Game Plan newsletter The suit was filed in 2012 as a whistle-blower claim by David Kester, a former Novartis employee. The U.S. is joined in the claims involving Exjade by 11 states that intervened in the suit. The U.S. claims Novartis referred patients to the specialty pharmacies and paid kickbacks in the form of rebates to get the pharmacies to recommend the drugs to patients and to increase sales. The case is U.S. v. Novartis Pharmaceuticals Corp., 11-cv-08196, U.S. District Court, Southern District of New York (Manhattan). | NVS | {"Bob Van Voris"} | 1124 |
| Novartis Pays $12.6M Fine for Giving Inaccurate Pricing Data to Medicare | -9 | 2015-03-16 00:00:00 | Previously, Sandoz paid a $230,000 penalty in December 2011 for late reporting of drug pricing information to CMS. Sandoz, which is owned by Novartis and markets hundreds of generic drugs in the U.S., allegedly misrepresented the average sales price data to Medicare between January 2010 and March 2012. In what the federal government says is the largest such settlement ever reached, Sandoz has agreed to pay $12.64 million to resolve allegations that it misrepresented pricing data on medicines that were provided to the Centers for Medicare & Medicaid Services. OIG has warned the pharmaceutical industry that inaccurate pricing is a “longstanding area of concern” and five years ago, issued a special advisory bulletin notifying drug makers of its intent to pursue penalties for failing to meet reporting requirements. | NVS | {"Ed Silverman"} | 1125 |