Feds: Sandoz Inc. to pay $195M over antitrust allegations

WASHINGTON (AP) — The Justice Department says pharmaceutical company Sandoz Inc. will pay a $195 million penalty to resolve criminal charges of conspiring to fix prices and rig bids for generic drugs.

Officials say Monday that the company would admit guilt and pay the penalty.

The Justice Department said it was the largest fine the department had levied in a domestic antitrust case. Under the agreement, criminal prosecution will be deferred for three years.