Pfizer Will Pay $60M To End Foreign Bribery Probes

Law360, New York (August 7, 2012, 1:50 PM EDT) -- Pfizer Inc. has agreed to pay $60 million to settle criminal and civil allegations that its Pfizer H.C.P. Corp. and Wyeth LLC subsidiaries bribed foreign officials throughout Europe and Asia, federal prosecutors and the pharmaceutical giant announced Tuesday.

The agreements resolve Foreign Corrupt Practices Act investigations by both the U.S. Department of Justice and the U.S. Securities and Exchange Commission. Pfizer first came forward with the possible violations in a voluntary disclosure to federal officials in October 2004.

"Pfizer subsidiaries in several countries had bribery so...
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