Home Page
 
News 08 Aug 12

Pharmaceutical Giant Settles Bribe Cases

The world’s biggest drug-maker, US company Pfizer Inc. agreed to pay $60,2 millions to settle foreign bribery cases in eight countries including Croatia, Serbia and Bulgaria.

BIRN
Centrum multivitamins are shown on the packaging line at the Pfizer plant in Montreal | Photo by Beta/AP Photo/The Canadian Press, Graham Hughes

According to the US Securities and Exchange Commission, SEC, Pfizer’s overseas subsidiaries in Serbia, Croatia, Bulgaria, Italy, Bohemia, Kazahstan, Russia and China allegedly made payments to health care workers and high state officials in order to win business and boost sales.

The SEC said the payoffs were made “without the knowledge or approval of officers or employees of Pfizer, but the inaccurate books and records of Pfizer subsidiaries were consolidated in the financial reports of Pfizer.”

The US Department of Justice charged the company with conspiracy to violate Foreign Corrupt Practices Act, and with violation of the act’s anti-bribery provisions.

Prosecutors agreed to defer prosecution and drop charges for two years if Pfizer „continues to cooperate and make remedial steps“.

The settlement between Pfizer and the prosecution has yet to be confirmed by the US Federal Court.

In Bulgaria, local representatives spent $28,000 taking doctors in charge of procurement on “incentive trips” to Greece, as a reward for the physicians who were the biggest prescribers of Pfizer’s products, Pfizer admitted according to the US Justice Department files.

They also paid $17,000 to send doctors to medical conferences, again in exchange for commitments to prescribe Pfizer drugs.

In Croatia, Pfizer’s subsidiary is accused of bribing Croatian doctors working for state bodies in charge of drug registration, paying the physician in cash and travel expenses, Pfizer admitted.

The indictment states that an employee of Pfizer’s Serbian subsidiary paid for a trip to Chile to a doctor employed in a state hospital, in return for promotion of Pfizer’s products.

Although the officials of Pfizer Serbia fired the employee they were unable to break the agreement that he already made with the doctor because the doctor threatened to disclose the case to the authorities.  

Pfizer also admitted to what was called the “hospital program,” in Russia, where doctors were given a 5 percent kick- back on certain drugs prescribed.

 

 

Talk about it!

blog comments powered by Disqus

Related Headlines:

moldova-appoints-new-defence-minister-10-24-2017
24 Oct 17

Moldova Suspends President to Appoint Defence Minister

Moldova’s new Defence Minister Eugen Sturza was sworn in while the country’s pro-Russian president was temporarily suspended for his refusal to approve the appointment. 

24 Oct 17

Hopes and Fears on the Balkan Refugee Route

23 Oct 17

Scavenging Bear Injures Two in Romanian Town

Premium Selection

hopes-and-fears-on-the-road-to-europe-10-24-2017
24 Oct 17

Hopes and Fears on the Balkan Refugee Route

Refugees and migrants taking the long, hazardous journey to the European Union offered unique personal insights into their lives in transit as they made their way across Serbia.

ldk-is-sunday-s-winner-in-kosovo-analysts-say-10-23-2017
23 Oct 17

Kosovo’s LDK Makes Comeback in Local Polls: Analysts

Compared to June’s general elections, Sunday’s municipal elections in Kosovo showed an increase in support for the Democratic League of Kosovo and a decrease for Vetevendosje (Self-Determination).

23 Oct 17

Rtanj: Serbia’s Magic Mountain

23 Oct 17

Bosnia’s ‘Hero Town’ Dies on its Feet

23 Oct 17

Croatian Top Economists Back Move to Join Euro

20 Oct 17

‘Political War’ in Moldova Threatens Army