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:

Web Sites Trading In Goods Under Sanctions Can be Blocked
16.03.2017
Brussels Airlines Intends to Lease Sukhoi Superjet 100
16.01.2017
The Bank Of Russia Will Create Its Community Of IT Developers
31.12.2016
Gazprom Signed a Contract With Chinese State Oil Company CNPC
05.09.2016
Farmers May Face the Shortage Of Places For Grain Storage
26.08.2016



comments powered by Disqus




Comment on our site


RSS   twitter   facebook   submit

Bookmark and Share

Russian Parliament in Action

search on the map
TAGS:
anniversary  Monuments to People  Russian ballet  Dmitry Khvorostovsky   Krasnodar region  Lake Baikal  corruption  the Urals region  Alexander Osmerkin  Selenginsk  Irkutsk Region  Chechnya  Kids Fashion Festival   Lenin  Dmitry Kardovsky  Kolomenskoye  Russian business  Arts and Crafts  Russian opposition activists  Russian history  Russian airlines  Gravitation Waves  Exhibitions in Moscow  Minsk Agreements  LGBT in Russia  Barnaul  Russian Duma  military exercises  Russian Cinema  Penny Whistles  Tyumen plane crush  Russian tourism  Amur Region  Russian Monuments  Regions  opinion poll  Armen Dzhigarkhanyan  Russian Literature  Fyodor Volkov Award  Russian parks  Archeology  Painting  Patriotic War of 1812  Russian Museum  Evrokhim   Mercedes-Benz Fashion Week Russia  Russian cuisine  Mark Krivosheyev  Chaykovsky  Moscow 


Travel Blogs
Top Traveling Sites