A Record FCPA Year For Pharma

Law360, New York (January 12, 2017, 5:37 PM EST) -- Melissa L. Jampol

Elena M. Quattrone As December 2016 was ending, the U.S. Department of Justice and the U.S. Securities and Exchange Commission announced that Teva Pharmaceutical Industries Ltd., an Israeli company that is the world’s largest manufacturer of generic pharmaceutical products, agreed to pay $519 million in a deferred prosecution agreement and civil settlement to resolve violations of Foreign Corrupt Practices Act of 1977.[1] This was the fourth largest FCPA case to date and the largest FCPA resolution involving a health care entity. Teva’s employees bribed government officials in Russia, Ukraine and Mexico to increase the approval of certain drugs in...

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