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FCPA Blog Daily News

Entries in SciClone (10)

Thursday
Apr202017

Elizabeth David-Barrett: Pharmas and the repeated failure of anti-bribery compliance

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?

Click to read more ...

Thursday
Feb042016

SciClone pays SEC $12.8 million to settle China FCPA offenses

California-based SciClone Pharmaceuticals will pay $12.8 million to settle SEC charges that it violated the Foreign Corrupt Practices Act when employees in China pumped up sales for five years by making improper payments to professionals employed at state health institutions.

Click to read more ...

Thursday
Mar202014

SciClone sets aside $2 million for ongoing FCPA probe

SciClone Pharmaceuticals Inc. said it has reserved $2 million for penalties related to an ongoing Foreign Corrupt Practices Act probe.

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Tuesday
Aug132013

Second subpoena in SciClone China probe

SciClone Pharmaceuticals Inc. said Friday that an investigation launched three years ago into possible FCPA violations in China is ongoing and the SEC has issued a new subpoena focused on ‘sales and marketing expenses’ by its NovaMed unit there.

Click to read more ...

Thursday
Mar142013

Docs collect billions for drug promos

ProPublica ran an exposé this week about big bucks for doctors who promote products for drug companies.

Click to read more ...

Tuesday
Dec202011

Fox's Top Ten For 2011, Corporate Division

As December is a time for reflection on the past twelve months, I have been considering the FCPA Enforcement Action year.

Click to read more ...

Tuesday
May172011

Is Pharma Under Fire In Indonesia?

As we said, two FBI agents at an international law enforcement conference last week said several U.S. public companies are being investigated for bribery in Indonesia.

Click to read more ...

Monday
Dec272010

Fox's Favorite Investigations

Last week Tom Fox picked his top ten FCPA enforcement actions for 2010. Today he gives his choices for the top ten investigations disclosed or making news this year:

Click to read more ...

Tuesday
Oct052010

The Novartis Speakers Bureau

There's an FCPA storm swirling around the drug makers. What will happen next?

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Tuesday
Aug172010

Watching For Whistleblowers

In its quarterly report released August 9, SciClone Pharmaceuticals, Inc. said it received an SEC subpoena and a letter from the DOJ investigating the "sale, licensing and marketing of its products in foreign countries, including China."

According to SciClone, the DOJ said it was looking at FCPA issues in the pharmaceutical industry generally, and had received information about SciClone's practices suggesting possible violations.

A reader was curious about the timing of SciClone's announcement. Less than a month ago, President Obama signed into law the Dodd-Frank Wall Street Reform and Consumer Protection Act. It authorizes payments of 10% to 30% for recoveries of at least a million dollars based on information about violations of the securities laws, including the FCPA.

So we asked SciClone if the FCPA investigation was triggered by a recent whistleblower complaint. Ana Kapor, the firm's director of investor relations and corporate communications, answered quickly but said only: "We are not able to comment on this topic beyond what we included in our filings earlier this week."

Is this the first FCPA-related whistleblower case under the new reward program? Or is it, as most assume, part of the year-old investigation of drug makers that already targeted GlaxoSmithKline, AstraZeneca, and Merck? Or is it both? There's no way to tell until someone involved goes on the record.

SciClone Pharmaceuticals, Inc. trades on NASDAQ under the symbol SCLN.

*     *     *

A slice of the FCPA pie. In his August 16 article about FCPA-related civil suits, Forbes' Nathan Vardi correctly says there's no private right of action under the FCPA. So plaintiff lawyers look for other ways to sue directors and officers for their company's overseas bribery.

Results of the suits have been mixed but some have produced big settlements. He lists Faro Technologies, which paid $6.9 million; Nature’s Sunshine, which paid $6 million; Immucor, $2.5 million; and Syncor, $15.5 million. And he says plaintiff lawyers are prowling for more targets by following SEC and DOJ leads -- including Weatherford International, Parker Drilling, Avon Products, and Pride International.

Ther article is Plaintiff Lawyers Join The Bribery Racket.