Additionally, the Commission found that Novartis lacked sufficient internal accounting controls with its Alcon business in China.
The SEC charged the global pharmaceutical company with violations of the books and records and internal accounting controls provisions of the FCPA.
SEC Enforcement Division FCPA Unit Chief Charles Cain commented, “Poor control environments are fertile soil for malfeasance. As illustrated by Novartis’ misconduct, weaknesses in one part of the business can often serve as a harbinger of larger unaddressed problems.”
