South Korea Fines Drug Cos. $9.6M Over Kickbacks

Law360, New York (September 21, 2011, 7:26 PM EDT) -- South Korean antitrust regulators announced Wednesday that it had fined six pharmaceutical companies, including domestic units of Sanofi-Aventis SA, Bayer Corp. and AstraZeneca PLC, 11 billion won ($9.6 million) for offering illegal kickbacks to doctors.

The Korean Fair Trade Commission said it levied fines against the three companies, as well as South Korean units of Novartis AG and Janssen Pharmaceuticals Inc. and local drugmaker CJ Cheiljedang Corp., on Sept. 5 for providing indirect economic incentives to boost prescriptions of their products.

The drug companies repeatedly gave...
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