Foreign Bribery Investigations Ramping Up, Along With 'Carrot' For Cooperation
Pilot program from DOJ reduces fines for companies that voluntarily disclose misconduct; focus of investigations is broadening from sales to suppliers.
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Sanofi agrees to pay $25.2m to resolve charges its Kazakhstan and Middle East subsidiaries paid bribes to win business; last pharma settlements were in 2016.
Herbalife is the focus of a Securities and Exchange Commission investigation into anti-corruption compliance in the firm’s China business, the company reported in a Jan. 20 regulatory filing. An analyst covering the stock believes the investigation will have little impact on growth.
Teva made over $200 million in profits resulting from payments to government officials in Ukraine, Russia and Mexico; now it will have to pay $519M in civil and criminal penalties. J&J held the previous record for the pharma sector in FCPA penalties of $70m.