Teva's Foreign Bribery Settlement Shatters Record For Rx Sector
Executive Summary
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.
You may also be interested in...
Novartis Settles Foreign Bribery Charges With US Government
The company agreed to pay $233.9m to the US Department of Justice and $112m to the Securities and Exchange Commission to settle foreign bribery charges tied to South Korea, Vietnam and Greece.
Sanofi FCPA Settlement Follows Drought In Pharma Foreign Bribery Cases
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.
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.