Pharmaceuticals companies continue to fall foul of the FCPA and other anti-bribery laws, with a number of 2016 cases suggesting a vulnerability around marketing practices especially in the Asia-Pacific region. Why does a sector that is way ahead of the compliance game in so many ways keep getting caught out by anti-bribery laws?
Entries in GSK (12)
What does the failure of the Kraft Heinz attempted hostile takeover of Unilever portend for the greater world of global anti-corruption enforcement specifically and compliance programs more generally?
The Securities and Exchange Commission said Friday UK-based pharma GlaxoSmithKline plc will pay a $20 million civil penalty to settle charges that it violated the Foreign Corrupt Practices Act when China-based subsidiaries spent millions of dollars on pay-to-prescribe schemes for several years to pump up sales.
At Pinsent Masons regulatory conference in London a few weeks ago, David Green, the chief of the UK Serious Fraud Office, talked about how many known frauds happen on his turf. Here's a hint: Lock up the silverware because it's a growth industry.
Job Title: Regional Specialist, Anti-Bribery & Corruption
Chinese police Wednesday charged the British former boss of GlaxoSmithKline's China unit and two other company executives with corruption for bribing health officials and doctors.
GlaxoSmithKline said it is investigating allegations of bribery in Jordan and Lebanon first reported by the media.
British pharma GlaxoSmithKline said it is investigating allegations the company hired government-employed doctors and pharmacists in Iraq as paid sales reps for its products.
We Americans sometimes think that because we have the FCPA and activist enforcement agencies, we also have a monopoly on the fight against corruption. Not true. There are people all over the world standing firm against graft. No matter where, it's dangerous work. But there was plenty of courage and persistence on display in 2013 beyond our borders.
Last November, I wrote a post analyzing how the leadership transition in China’s Communist Party might affect anti-corruption enforcement in that country and offering a few observations and predictions. The most recent Central Committee meeting of the Party, held in mid-November in Beijing, provides an opportunity to see how those predictions have borne out.