Pfizer To Settle FCPA Bribery Probe For $60M

Law360, New York (November 21, 2011, 5:41 PM EST) -- Pharmaceutical giant Pfizer Inc. will reportedly pay more than $60 million under deals with U.S. regulators to settle investigations into whether it used bribes to secure business in foreign countries.

The potential settlement, reported Monday by The Wall Street Journal, comes amid a broader U.S. crackdown on pharmaceutical companies over potential violations of the anti-bribery Foreign Corrupt Practices Act. Earlier this year, Johnson & Johnson agreed to pay U.S. regulators $70 million to settle bribery and kickback allegations involving overseas business.

In a Nov. 10 regulatory...
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