OTTAWA, Aug. 8, 2012 /PRNewswire/ - Nordion Inc. (TSX: NDN) (NYSE: NDZ), a
leading provider of products and services for the prevention, diagnosis
and treatment of disease, today disclosed that it is conducting an
internal inquiry and investigation of a foreign supplier and related
parties focusing on compliance with the Canadian Corruption of Foreign Public Officials Act (CFPOA) and the U.S. Foreign Corrupt Practices Act (FCPA).
Through the Company's own internal review as part of its CFPOA
compliance program, Nordion discovered potential compliance
irregularities. As a result, the Company recently commenced an internal
investigation of the possible compliance issues. These issues relate
to potential improper payments and other related financial
irregularities in connection with the supply of materials and services
to the Company. The investigation is being conducted by outside legal
counsel and external forensic and accounting firms who are experts in
such compliance. These external advisors are reporting regularly to a
special Committee of the Board constituted to deal with this matter.
Nordion has voluntarily contacted the regulatory and enforcement
authorities, including the Canadian and U.S. Department of Justice, the
Royal Canadian Mounted Police (RCMP), the U.S. Securities and Exchange
Commission (SEC) and the Public Prosecution Service of Canada, to
provide details of the matter and advise that an internal investigation
is underway. The internal investigation is in its early stages and the
Company's external advisors have met with these authorities and will
continue to provide reports to them as the investigation progresses.
Nordion is committed to the highest standards of integrity and diligence
in its business dealings and to the ethical and legally compliant
business conduct by its employees, representatives and suppliers. The
Company reviews its compliance programs on a regular basis to assess
and align them with emerging trends and business practices. Corrupt or
fraudulent business conduct is in direct conflict with the Company's
Global Business Practice Standards and corporate policies. The Company
will continue to investigate this matter and cooperate with regulatory
and enforcement authorities with a view to an expedient resolution.
Forward Looking Statements
Certain statements contained in this news release constitute
"forward-looking statements". These statements are based on current
beliefs and assumptions of management, however are subject to known and
unknown risks, uncertainties and other factors that may cause actual
results to differ materially from the forward-looking statements in
this news release. For additional information with respect to certain
of these beliefs, assumptions, risks and uncertainties, please refer to
Nordion's Annual Information Form for fiscal 2011 available on SEDAR at
www.sedar.com and on EDGAR on www.sec.gov.
About Nordion Inc.
Nordion Inc. (TSX: NDN) (NYSE: NDZ) is a global health science company
that provides market-leading products used for the prevention,
diagnosis and treatment of disease. We are a leading provider of medical isotopes, targeted therapies and sterilization technologies that benefit the lives of millions of people in more than 60 countries
around the world. Our products are used daily by pharmaceutical and
biotechnology companies, medical-device manufacturers, hospitals,
clinics and research laboratories. Nordion has more than 500 highly
skilled employees in three locations. Find out more at www.nordion.com and follow us at http://twitter.com/NordionInc.
SOURCE Nordion Inc.