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.



Author: Julia Shuvalova

Tags: Russian business pharmaceutical industry in Russia Russian law   

Next Previous

You might also find interesting:

Sberbank Carried Out Russias First Payment Transaction Using Blockchain Technology
Lefortovo Interdistrict Prosecutor's Office Conducted an Audit Of the LavkaLavka
Sberbank Hold a Conference In India
The Prices for European Wines in Russia will Grow in the Near Future
Fitch Has Raised the Forecast for the Growth of the Russian Economy in 2017

comments powered by Disqus

Comment on our site

RSS   twitter   facebook   submit

Bookmark and Share

Flowers Delivery

search on the map
Uralkaly  Arkhangelsk Region  Ilya Mechnikov  Russian history  Smolensk  Unusual Monuments in Russia  National Card Payment System  Lipetsk   nuclear physics  All-Russian State Institute of Cinematography  Moscow hotels  Sergei Prokofiev  obituary  Moscow  Soyuz Spacecraft  Architecture  Scientific Satellite  Archeology  Russian Cinema  Rostov Region  Bashkiria  Lesozavodsk  Painting  Greenhouse Effect  Street Theatres  Syria  Organ Music  education  Russian business  Exhibitions in Moscow  Vladimir  The Voice of Nomads  Timur Bekmambetov  Vladimir Nilov  Mercedes-Benz Fashion Week Russia  Alexandrovsky Garden  Arsky Stone  Silver Bear  Tver region  astronomy  Russian tourism  Nikolay Karachev  Space Exploration  Russian Literature  Architecture Monuments  ENEA  accident  Wildlife  Russian journalists  Krasnodar 

Travel Blogs
Top Traveling Sites