Entries in Pfizer (17)
Authorities in Guangdong Province are responding with special seriousness to industry-wide anti-corruption regulations issued by the Ministry of Health (MOH) in July 2012.
Twelve companies settled FCPA enforcement actions in 2012 by paying a total of $259.4 million.
During the quarter just ended, there were five corporate FCPA enforcement actions, one enforcement against an individual by the SEC, four criminal sentencings of individuals, and three and a half corporate declinations.
Here's what happened:
Prague to Perth is more than 15 hours of flying time. Stops in Hong Kong to break up the trip are common, and for some people, necessary. But don't say that to the SEC.
We haven't had to update our list of corporate FCPA cases with the biggest disgorgements since March 2011. But now we do, thanks to Pfizer.
The SEC said Pfizer's employees and agents paid bribes in Bulgaria, China, Croatia, Czech Republic, Italy, Kazakhstan, Russia, and Serbia. Improper payments went to foreign officials 'to obtain regulatory and formulary approvals, sales, and increased prescriptions for the company’s pharmaceutical products.'
In November 2011, Pfizer said: 'We anticipate entering into and announcing final [FCPA settlement] agreements in the fourth quarter.' What happened?