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Novartis Nutrition Corporation Inc. (NVS) Settlement Reached In East St. Louis Investigation


10/19/2005 5:12:42 PM

MINNEAPOLIS, Feb. 11 /PRNewswire/ -- OPI Properties, an affiliate of Novartis Nutrition Corporation Inc., has reached a settlement with the United States Attorney for the Southern District of Illinois in connection with the federal government's investigation of the enteral nutrition industry. The government has already collected criminal fines and civil settlements from various companies involved in the investigation, including more than $600 million from another manufacturer.

The settlement includes a criminal plea, and payment of a $4.5 million fine, by OPI for conduct related to this investigation. The settlement also includes a civil agreement and payment of $44.65 million in civil damages by Novartis Nutrition Corporation. This settlement ends all federal claims against OPI and Novartis Nutrition Corporation arising out of this investigation.

Novartis cooperated fully with the government throughout this investigation.

Novartis Nutrition Corporation and all Novartis entities are committed to principled business practices and to operating in strict compliance with their Codes of Conduct. Novartis Nutrition Corporation has a strong ethics and compliance program in place, which includes zero tolerance for violations of its Code of Conduct and mandatory training for all employees. This investigation has reinforced Novartis Nutrition Corporation's continuous effort to identify and apply best ethical standards to its marketing practices to ensure full compliance with its Code of Conduct and commitment to doing business with integrity.

Novartis AG reported the federal investigation in all Annual Reports since 2002.

Contact: Sheldon Jones Novartis Corporate Communications Tel +1 212 830 2457 sheldon.jones@group.novartis.com

Novartis Nutrition Corporation Inc.

CONTACT: Sheldon Jones of Novartis Corporate Communications,+1-212-830-2457, sheldon.jones@group.novartis.com


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