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Novartis profit hurt by U.S. settlement

2015-10-28 01:20:37| Biotech - Topix.net

Novartis AG said Tuesday that third-quarter profit fell 42% from the same period last year, as the Swiss drug giant agreed to settle claims that it used rebates to get specialty pharmacies to increase prescriptions. Basel-based Novartis said net income fell to $1.81 billion, or $0.75 per share in the quarter ended in September, compared with $3.1 billion, or $1.27 share a year earlier.

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Category:Biotechnology and Pharmaceuticals

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