By
Ronald D. Orol: Federal Regulators on Tuesday charged pharmaceutical giant Pfizer Inc. with allegedly bribing doctors and others employed by foreign
governments in order to win business. The Securities and Exchange
Commission alleges that Pfizer employees in eight countries including
Bulgaria, China, Croatia and the Czech Republic, made "improper
payments" to foreign officials to obtain regulatory approvals, sales,
and increased prescriptions for the company's products. According to the
SEC, Pfizer and Wyeth LLC, which Pfizer acquired in 2009, agreed to pay a piffling $45 million combined to settle their charges. In a parallel
action, the Justice Department said Pfizer was fined only $15 million to
resolve that agency's investigation. Source
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