July 2 Quick Takes: Novartis to ante up $678M in settlement; plus Zai, Neoleukin, Base Genomics, Sarepta-Hansa, Dr. Reddy-Fujifilm
Novartis to pay $678M in kickbacks settlement
Novartis AG (NYSE:NVS; SIX:NOVN) will pay $678 million and, under a corporate integrity agreement, conduct its speaker programs virtually for the next five years after the pharma reached a settlement in a lawsuit that alleged it violated the federal False Claims Act and Anti-Kickback Statute. The lawsuit claimed that Novartis provided “doctors with cash payments, recreational outings, lavish meals, and expensive alcohol to induce them to prescribe Novartis cardiovascular and diabetes drugs,” according to a release from the Department of Justice.
Zai Lab mum on report of Hong Kong listing plan
Zai Lab Ltd. (NASDAQ:ZLAB) declined to comment on a report in the Hong Kong Economic Journal that suggested it may seek to become a dual-listed company via a public offering on the Hong Kong stock exchange as soon as this year. The report said Zai had retained J.P. Morgan Chase and Citi as bankers; both have underwritten prior offerings by the company on NASDAQ...