The biggest of the Big Pharmas, Pfizer, has agreed to pay $60 million in fines to the federal government to settle charges the company paid millions of dollars in bribes to foreign officials. The drug maker agreed to pay roughly $45 million to the Securities and Exchange Commission to settle charges that it, along with fellow Big Pharma firm Wyeth - which Pfizer acquired just a few years ago - violated the Foreign Corrupt Practices Act, a variety of reports noted. Officials with the SEC said staff from both companies' subsidiaries paid off foreign government officials to increase sales and obtain regulatory approvals. Violations occurred in several countries - China, Bulgaria, Russia, Serbia, Croatia, the Czech Republic, Italy, and Kazakhstan, said SEC officials. See full Article.
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