Orthofix, Pfizer FCPA Cases A Sign Of What's To Come
Law360, New York (September 21, 2012, 1:14 PM EDT) -- In November 2009, Lanny Breuer, assistant attorney general for the U.S. Department of Justice's Criminal Division, publicly announced that the DOJ intended to focus on U.S. Foreign Corrupt Practices Act violations in the pharmaceutical and medical device industries. According to the DOJ, "The depth of government involvement in foreign health systems, combined with fierce industry competition and the closed nature of many public formularies, creates, in our view, a significant risk that corrupt payments will infect the process."
In 2010, the then-chief of the U.S. Securities Exchange Commission's FCPA unit reiterated the sentiment. With several settlements in the past months, the...
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