COLOPLAST SETTLES WITH THE U.S. DEPARTMENT OF JUSTICE
Coloplast has entered into a definitive settlement agreement with the U.S. Department of Justice. With the settlement, the case between the government and Coloplast is fully resolved. Under the terms of the agreement, Coloplast will pay USD 3.1 million, and legal costs. The amount is included in Coloplast’s annual financial report, which was released on 3 November.
“We are satisfied that we’re finally able to bring the case to a close with a settlement that makes it possible for us to continue our activities in the US, including dealer partnerships, at the same level as prior to the investigation,” says Coloplast’s CEO Lars Rasmussen.
Coloplast was not required to admit to any wrongdoing as part of the settlement. The decision to settle is driven solely by business considerations.
“Under the circumstances, we are convinced that a settlement is the right thing to do to bring the case to a close. We avoid spending more time and money on a tiring and lengthy legal process,” says Lars Rasmussen.
Coloplast previously announced that it had reached an agreement in principle to settle the matter. Coloplast has now entered into a definitive settlement agreement.
Recognizing the government’s responsibility to ensure the appropriateness of industry marketing practices, Coloplast cooperated fully with the Department of Justice inquiry by providing relevant documents and by participating in interviews. The company continues to work hard to sustain a culture of compliance throughout its operations.
Coloplast was not required to enter into a corporate integrity agreement as part of the settlement.
Press
Dennis Kaysen
Director, Corporate Communications
Tlf. +45 49112608
dkdk@coloplast.com
Investors and analysts
Ian Christensen
Vice President, Investor Relations
Tlf. +45 49111301
dkisec@coloplast.com
