Want to create an interactive transcript for this episode?
Podcast: Corruption Crime & Compliance
Episode: Episode 148 -- A Review of the Novartis & Alcon FCPA Enforcement Action
Description: Even during this difficult time of the pandemic, economic uncertainty and social unrest, the Justice Department and the SEC have concluded a major FCPA enforcement action.
Novartis and Alcon (which was a Novartis subsidiary at the time of the misconduct) agreed to pay a total of $345 million in criminal and civil penalties. Novartis spun off Alcon in 2019.
Under the DOJ settlement, Novartis and Alcon each entered into a deferred prosecution agreement; Novartis agreed to pay a fine of $225 million and Alcon agreed to pay $8.9 million in criminal penalties. Novartis also entered into a settlement with th...