US fines Novartis $390 million over pharmacy kickbacks

New York: The US fined Swiss drugmaker Novartis USD 390 million for granting kickbacks to pharmacies that recommended the company's drugs, the Department of Justice announced on Friday.

In a settlement deal Novartis admitted that it gave specialty pharmacies exceptional rebates and patient referrals in exchange for recommending Exjade, which treats excess iron in blood, and Myfortic, an anti-rejection drug for kidney transplant recipients.