Overseas sales and marketing under investigation at Bristol-Myers Squibb
Tuesday, February 26, 2013 at 6:08AM
Richard L. Cassin in Bristol Myers Squibb, Corporate Investigations List, Germany, Subpoena

In its Form 10-K filed this month, pharma Bristol-Myers Squibb said an FCPA investigation started by the SEC seven years ago that focused on operations in Germany has expanded to include other countries.

The company didn't name the regions or countries now under review.

It said the expanded probe covers overseas sales and marketing practces.

Bristol-Myers Squibb received an SEC subpoena last year.

Here's the complete disclosure:

SEC Germany Investigation

In October 2006, the SEC informed the Company that it had begun a formal inquiry into the activities of certain of the Company’s German pharmaceutical subsidiaries and its employees and/or agents. The SEC’s inquiry encompasses matters formerly under investigation by the German prosecutor in Munich, Germany, which have since been resolved. The Company understands the inquiry concerns potential violations of the Foreign Corrupt Practices Act (FCPA). The Company is cooperating with the SEC.

FCPA Investigation

In March 2012, the Company received a subpoena from the SEC. The subpoena, issued in connection with an investigation under the FCPA, primarily relates to sales and marketing practices in various countries. The Company is cooperating with the government in its investigation of these matters.

Article originally appeared on The FCPA Blog (http://www.fcpablog.com/).
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