Pharmaceutical giant has Pfizer has agreed to pay the United States government $60 million to settle charges that its representatives bribed health care officials in Europe and Asia to secure lucrative contract. The company admits no wrongdoing:
The US drugs giant does not admit any guilt.
“Pfizer subsidiaries in several countries had bribery so entwined in their sales culture that they offered points and bonus programs to improperly reward foreign officials who proved to be their best customers,” said Kara Brockmeyer, chief of the SEC’s foreign enforcement division, which made the allegations.
The countries involved are Bulgaria, China, Croatia, Czech Republic, Italy, Kazakhstan, Russia, and Serbia.
Sixty million dollars may sound like a lot of money, but it’s practically peanuts to Phizer: The company grossed almost $48 billion in income last year.