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Pfizer Inc. (PFE) Confesses About "Potential" Overseas Bribes


8/12/2011 7:05:58 AM

In another instance in which a drugmaker appears to have bribed overseas officials, Pfizer has “voluntarily” provided the US Department of Justice and the US Securities and Exchange Commission with information concerning “potentially improper payments made by Pfizer and Wyeth personnel in connection with certain unspecified sales activities outside the US. The move comes amid increased scrutiny by the feds into the pharmaceutical industry and its interactions with foreign health care systems. In late 2009, the head of the Justice Department’s Criminal Division warned drugmakers that there will be more criminal enforcement against interactions with foreign officials as they seek violations of the Foreign Corrupt Practices Act (see here).

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