Add to favorite
 
Subscribe to our Newsletters Subscribe to our Newsletters Get Daily Updates RSS

Pfizer-Owned Companies Embroiled In a Corruption Case in Russia
8.08.2012 15:09
Pfizer-Owned Companies Embroiled In a Corruption Case in Russia

Corruption, mainly in the form of bribery, seems to be contagious. No sooner that two companies owned by Pfizer began their dealings with partners from Russia, Eastern Europe, and the CIS, that they started bribing companies' CEO to promote Pfizer's products.

      The Western tabloids report that the companies Wyeth (bought by Pfizer in 2009) and Pfizer HCP have breached the U.S. law that prohibits the American companies and individuals to bribe anyone in a foreign country.

      In the period from 1997 to 2006 the companies paid over $2mln in bribes in Russia, Kazakhstan, Croatia, and Bulgaria, which resulted in over $7mln "return-on-investment". The companies used bribes to promote medicines, to sign the import contracts, to facilitate the customs control, and to make sure that medicines are prescribed by doctors, Bloomberg reports.

      Pfizer will now have to pay over $60,2mln in fines, including $15mln for the legal offence.

       


Sources: http://www.vedomosti.ru 

Author: Julia Shuvalova

Tags: Russian business pharmaceutical industry in Russia Russian law   

Next Previous


You might also find interesting:

A Tender On Purchase Of Russia's Largest Gold Deposit Is Closed
31.01.2017
Fitch Has Raised the Forecast for the Growth of the Russian Economy in 2017
14.10.2017
Sberbanks Retail Portfolio Exceeds 4.3 Trillion Roubles
27.05.2017
The Creditor Banks Of Khotin's Companies Will Have to Create Additional Reserves
30.07.2017
VKontakte Will Launch Its Service Provider - VKmobile
30.10.2016



comments powered by Disqus




Comment on our site


RSS   twitter   facebook   submit

Bookmark and Share

Russian Parliament in Action

search on the map
TAGS:
Bryansk Oblast   Yevtushenkov   Multimedia Art Museum  winter time  Russian climate  protest rally  Moscow airports  Archeology  Jazz Summer Festival  Russian tourism  Kolomna  Rembrandt  the XXII Olympic Winter Games in Sochi  Mercedes-Benz Fashion Week Russia  Film Festival  Moscow  Russian business  Caricatures  Exhibitions in Moscow  Krasnodar region  Russian Rock  anti-gay law  Archaeology  investment  Sakhalin  Times and Eras  Shelekhov  Soviet Architecture  the Urals region  Krasnoslobodsk  aircraft  oil  MTS   Russian Literature  Monuments in Moscow  Isaac Levitan  Daytime Asteroids Detection System  Painting  Konstantin Tsiolkovsky  Chechen republic  Russian history  Vladimir Vysotsky  Russian Actresses  Russian tennis  Tsarskoye Selo   Festivals in Saint Petersburg  US sanctions  Russian education  MasterCard  Russian Cinema 


Travel Blogs
Top Traveling Sites