Sanofi FCPA Settlement Follows Drought In Pharma Foreign Bribery Cases
Sanofi agrees to pay $25.2m to resolve charges its Kazakhstan and Middle East subsidiaries paid bribes to win business; last pharma settlements were in 2016.
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The company agreed to pay $233.9m to the US Department of Justice and $112m to the Securities and Exchange Commission to settle foreign bribery charges tied to South Korea, Vietnam and Greece.
Revisions to DoJ guidelines will let companies off the hook for self-reported overseas bribery charges in many cases. But whether or not to come forward remains a tricky decision.
Teva made over $200 million in profits resulting from payments to government officials in Ukraine, Russia and Mexico; now it will have to pay $519M in civil and criminal penalties. J&J held the previous record for the pharma sector in FCPA penalties of $70m.