Novartis' Sandoz unit has agreed to pay $150 million Swiss francs to settle claims it charged the U.S. and state governments inflated prices for drugs, a Swiss newspaper reported.
Drugmaker Sandoz reaches $150 million settlement over pricing
Under the deal Novartis will pay the U.S. government $86.5 million and the states of California and Florida $40 million and $15.2 million, respectively. Ven-a-Care, a drug company based in Florida, will receive $8.3 million.
"Sandoz agreed to the settlement to avoid further costs, unpleasantness and the uncertainty of a long-winded court hearing," Novartis spokeswoman Isabel Guerra told Der Sonntag newspaper.
Novartis made a provision for the $150 million in the second quarter, according to the newspaper.
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