AstraZeneca And The SEC's Focus On Life Sciences

Law360, New York (September 9, 2016, 11:49 AM EDT) -- Gary F. Giampetruzzi

S. Joy Dowdle

Katherine K. Solomon Continuing its onslaught of enforcement actions against life sciences companies this year, the U.S. Securities and Exchange Commission announced its recent settlement with AstraZeneca PLC. The Aug. 30, 2016, cease-and-desist order resolves allegations that AstraZeneca's Chinese and Russian subsidiaries violated the internal controls and recordkeeping requirements of the Foreign Corrupt Practices Act, which allowed management and staff to engage in and conceal improper payment schemes to health care providers ("HCPs") at state-owned and state-controlled entities in China and Russia and to local government officials in China. AstraZeneca paid $4,325,000 in profit disgorgement,...

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