Report: Pfizer to settle bribery probe

AP News
Posted: Nov 20, 2011 8:07 PM
Report: Pfizer to settle bribery probe

Pfizer Inc. will pay at least $60 million to settle allegations by the U.S. government that the drugmaker paid bribes to win overseas business, according to The Wall Street Journal.

The paper, citing "people familiar with the matter," said in an article published to its website Sunday that settlements are expected to be made public by the end of the year.

In April, health care giant Johnson & Johnson agreed to pay $70 million to settle civil and criminal charges of bribing doctors in Europe and paying kickbacks to the Iraqi government to illegally obtain business. Terms of the deal included J&J putting in place a program to make sure it complies with anti-bribery laws across its businesses.

The charges were brought under the Foreign Corrupt Practices Act.