The U.S. Securities and Exchange Commission (SEC) has announced that New York-based pharmaceutical company has agreed to settle charges that its joint venture in China made cash payments and provided other benefits to health care providers at state-owned and state-controlled hospitals in exchange for prescription sales.
The company will pay more than $14 million to settle the SEC’s finding that it violated the Foreign Corrupt Practices Act (FCPA) and reaped more than $11 million in profits from its misconduct.
To read the entire SEC Press Release please follow this link: $14M to Settle FCPA Violations
The company will pay more than $14 million to settle the SEC’s finding that it violated the Foreign Corrupt Practices Act (FCPA) and reaped more than $11 million in profits from its misconduct.
To read the entire SEC Press Release please follow this link: $14M to Settle FCPA Violations
