Bloomberg the Company

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Follow Us

Industry Products

Drugmakers Probed on Global Bribery Allegations, WSJ Reports

Don't Miss Out —
Follow us on:

Oct. 5 (Bloomberg) -- U.S. federal investigators are probing major drug companies over allegations of bribes paid in countries such as Brazil and Saudi Arabia in order to boost sales and accelerate product approval, the Wall Street Journal reported, citing people familiar with the matter.

Officials from the Securities and Exchange Commission and the Justice Department are investigating companies such as Merck & Co., AstraZeneca Plc, Bristol-Myers Squibb & Co. and GlaxoSmithKline Plc for possible violations of the 1977 law preventing companies with stock traded in the U.S. from bribing foreign officials, the newspaper said.

SciClone Pharmaceuticals Inc. and Eli Lilly & Co both said they’d been subpoenaed, and Baxter International Inc. said it’s also being probed; the investigations cover sales and operations in Brazil, China, Germany, Italy, Poland, Russia and Saudi Arabia, the WSJ added.

Story link: {NSN L9SKUT6MMXAC<GO>}

To contact the editor responsible for this story: Chris Peterson at cpeterson@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.