Legal & Regulatory News, In Brief
Merck, SciClone join companies under Foreign Corrupt Practices Act investigation: Merck and SciClone reported in recent 10-Q filings with the Securities and Exchange Commission that the Department of Justice and the SEC are investigating their activities overseas to determine if they were in compliance with the Foreign Corrupt Practices Act. Merck said the DoJ and SEC are seeking information about its activities in a number of countries and SciClone said the agencies are investigating the "sale, licensing and marketing of its products in foreign countries, including China." Last year several companies, including Lilly, Bristol-Myers Squibb and AstraZeneca, reported they were under investigation for possible violations of the FCPA, which prohibits U.S. companies from bribing foreign officials for government contracts and other business (1"The Pink Sheet," Aug. 31, 2009)
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