Olympus: Another Life Sciences Company Gets Hit Hard

Law360, New York (March 21, 2016, 11:02 AM EDT) -- Gary Giampetruzzi

Tara Ravi

Zachary Zwillinger Demonstrating the continued focus of the U.S. Department of Justice on the life sciences industry, on March 1, 2016, the U.S. Attorney's Office for the District of New Jersey announced a major settlement with Olympus Corporation of the Americas, the U.S. subsidiary of Olympus Corporation, a Japanese company and the largest U.S. distributor of endoscopes and related equipment.[1]

Of the $646 million settlement, $623.2 million relates to allegations of a scheme to pay illegal bribes to doctors and hospitals across the U.S. to induce purchases of its products, in violation of the Anti-Kickback Statute and...

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