Pfizer Discloses Potentially Improper Payments to doctors outside USA (Is it India???)

Pfizer Discloses Potentially Improper Payments

Aug 18, 2011

By: Amy Ritter ePT–the Electronic Newsletter of Pharmaceutical Technology

In its latest filing with the Securities and Exchange Commission (SEC) for the quarter ending July 2011, Pfizer indicated that it has voluntarily provided the SEC and the Department of Justice (DOJ) with information concerning potentially improper payments made by Pfizer and Wyeth to doctors in connection with sales activities that took place outside of the United States. (Is it India too? The blog-owners question???)

Pfizer also says in the filing that it is in discussion with the DOJ and the SEC regarding a resolution of these matters. Pfizer also disclosed that other potentially improper payments are the subject of investigation by government authorities in other countries, including a tax investigation being conducted in Germany related to a wholly owned subsidiary of Pfizer. If SEC finds that the improper payments constituted bribery, it could be costly for Pfizer.

Earlier this month, Johnson & Johnson (J&J) agreed to pay $70 million to settle bribery charges brought by the SEC. J&J was charged with bribing public doctors in Greece, Poland, and Romania.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: