Novo Nordisk: to pay 59 million dollars to settle US probe.
(CercleFinance.com) - Denmark's Novo Nordisk will pay close to 59 million dollars to end a US federal investigation on marketing practices for its type-2 diabetes medicine Victoza, the firm said on Wednesday.
Under the terms of the settlement, the company will pay approximately 46.5 million dollars to the federal government and the US States that reimbursed Victoza under their Medicaid programmes.
In addition, Novo Nordisk will pay 12.15 million dollars to resolve a complaint filed by the government on behalf of the FDA in a federal court.
The settlement resolves claims alleging Novo Nordisk did not fully comply with communicating safety information based on US Food and Drug Administration (FDA) requirements.
"While we do not agree with the US government's legal conclusions and deny any wrongdoing, we're pleased to have negotiated a resolution that allows the company to return its full attention to developing medicines," Novo Nordisk said.
The investigation was first disclosed in February 2011.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
Under the terms of the settlement, the company will pay approximately 46.5 million dollars to the federal government and the US States that reimbursed Victoza under their Medicaid programmes.
In addition, Novo Nordisk will pay 12.15 million dollars to resolve a complaint filed by the government on behalf of the FDA in a federal court.
The settlement resolves claims alleging Novo Nordisk did not fully comply with communicating safety information based on US Food and Drug Administration (FDA) requirements.
"While we do not agree with the US government's legal conclusions and deny any wrongdoing, we're pleased to have negotiated a resolution that allows the company to return its full attention to developing medicines," Novo Nordisk said.
The investigation was first disclosed in February 2011.
Copyright (c) 2017 CercleFinance.com. All rights reserved.