San Diego, CA -- (SBWIRE) -- 10/10/2017 -- The Whistleblower Institute announces that Novo Nordisk Inc reached a $58 million settlement in a whistleblower lawsuit over failing to Comply with FDA-Mandated Risk Program.

Those who have a similar case or experienced a similar situation or any other wrongdoing within a corporation have certain options and should contact the Whistleblower Institute at mail@whistleblowerinstitute.com or call: 619-452–1218. There are no costs or obligations to you.

A settlement has been reached to resolve False Claims Act allegations against Novo Nordisk Inc.

The allegations arose from a lawsuit that claimed Novo Nordisk Inc failed to comply with the FDA-mandated Risk Evaluation and Mitigation Strategy (REMS) for its Type II diabetes medication Victoza.

According to the government, the Food and Drug Administration approved Victoza for sale in 2010; it required Novo Nordisk to provide information to physicians about the potential risk of a rare form of cancer called medullary thyroid carcinoma (MTC). Allegedly, company sales representatives gave information that created a false or misleading impression about the required risk message that led some doctors to be unaware of the potential risks.

Reportedly, a 2011 survey showed that half of primary care doctors were unaware of the potential risk of MTC, the FDA required Novo Nordisk to company to change its procedures to increase awareness of the risk. Allegedly, Novo Nordisk told sales representatives to provide statements to doctors that obscured information about the risk.

"Novo Nordisk Inc. sales representatives misled physicians by failing to accurately disclose a potential life threatening side effect of a prescription drug, and needlessly increased risks to patients being treated with this drug," said Assistant Director in Charge Andrew W. Vale of the FBI's Washington Field Office. "The FBI is committed to ensuring that the private industry provides honest and accurate risk information to the public and will continue to work closely with our law enforcement partners to investigate companies who do not comply with FDA-mandated policies."

The settlements include a payment of $46.5 million for violations of the False Claims Act between 2010 and 2014 and $12.5 million for violations of the federal Food, Drug and Cosmetic Act from 2010 to 2012. Out of those settlements, $3.32 million will go to state Medicaid programs.

Based in Bagsværd, Denmark, Novo Nordisk is a Danish multinational pharmaceutical company, with production facilities in eight countries, and affiliates or offices in 75 countries.

The Whistleblower Institute is an information portal for current or former employees and other people having insight information about wrongdoing and other illegal activities by individuals either individually or within corporations, through company culture and or within international affairs. Whistleblowers should keep in mind that under the Dodd-Frank Act any person who provides the Securities and Exchange Commission ("SEC") with original information that leads to a successful enforcement action with over $1 million recovered must be awarded between 10%-30% of the total amount recovered. In order to determine the total amount of the reward there are numerous factors that need to be considered. Whistleblower actions are complex and our goal is to guide any whistleblower every step of the way. The Whistleblower Institute is dedicated to partnering with any individual who have information about fraud and we work with many of the best law firms worldwide.

Those who have a similar case or experienced a similar situation or any other wrongdoing within a corporation have certain options and should contact the Whistleblower Institute.

Contact:
Whistleblower Institute
2534 State Street - Suite 406
San Diego, CA 92101, USA
Phone: +1 (619) 452–1218
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Email: mail@whistleblowerinstitute.com

The material was prepared by the Whistleblower Institute for informational purposes only and is not legal or financial advice. The information is provided only as general information which may or may not reflect the most currently available public information, is not provided as a basis for any established or existing relationship, and is not intended to constitute legal or financial advice, or to substitute for obtaining such advice from an attorney or other advisor licensed in your state.