Novartis statement regarding settlement in principle for SDNY Specialty Pharmacy case

"Novartis announced that it reached a settlement in principle with the U.S. Department of Justice, the states and the Relator in the suit related to the Company's interactions with specialty pharmacies. Under the agreement, Novartis would pay USD 390 million to resolve all claims related to Myfortic®, Exjade®, Tasigna®, Gleevec® and TOBI®. Finalization of the settlement is contingent upon the negotiation and execution of mutually acceptable written agreements with the United States Department of Justice, the Office of Inspector General of the US Department of Health & Human Services (including corporate integrity obligations), the states and the relator.

Novartis is pursuing a mutually acceptable resolution of this litigation because we believe that is in the best interest of the company and the patients we serve. We neither admit nor deny liability. We continue to believe that Specialty Pharmacies play a key role in patient adherence and support. We remain committed to conducting our business in an ethical and compliant manner"