Drugmaker Pfizer fined for bribes in Eastern Europe

WASHINGTON Pfizer Inc., the world’s biggest drugmaker, has been accused in the U.S. of paying millions of dollars to obtain business in Eastern Europe, including Serbia. According to Bloomberg, the payments were made to government-employed doctors and workers in Serbia, Croatia, Bulgaria, Czech Republic, Italy, but also in Russia, China, Kazakhstan and China. Drugmaker Pfizer fined for bribes in Eastern Europe The U.S. Department of Justice filed charges against Pfizer and its daughter company Wyeth for bribery and the two companies agreed to pay USD 60.2mn to settle the case. According to the Department of Justice, Pfizer made payments and gave gifts to doctors and workers in Eastern Europe, China and the Middle East from 2001 until 2007. The part of the Securities and Exchange Commission (SEC) complaint that refers to Serbia states that Pfizer Serbia was in charge of distribution of the company’s products. According to the SEC, a Pfizer Serbia representative paid for a Serbian government-employed doctor’s trip to a conference in Chile. The representative in return asked for the doctor’s consent to increase the use of the Pfizer drugs in his ward. “Management of the Pfizer branch in Serbia soon discovered the case and fired their employee but continued to implement the agreement after the doctor had threatened to expose the entire case and release information that would have a negative impact on Pfizer’s reputation,” reads the SEC’s complaint. SEC said the payoffs were made “without the knowledge or approval of officers or employees of Pfizer, but the inaccurate books and records of Pfizer subsidiaries were consolidated in the financial reports of Pfizer.” Prosecutors agreed to defer prosecution and drop the charges after two years if Pfizer continues to cooperate and take remedial steps. The settlements must be approved by a federal judge, Bloomberg says. Tanjug Bloomberg

Drugmaker Pfizer fined for bribes in Eastern Europe

The U.S. Department of Justice filed charges against Pfizer and its daughter company Wyeth for bribery and the two companies agreed to pay USD 60.2mn to settle the case.

According to the Department of Justice, Pfizer made payments and gave gifts to doctors and workers in Eastern Europe, China and the Middle East from 2001 until 2007.

The part of the Securities and Exchange Commission (SEC) complaint that refers to Serbia states that Pfizer Serbia was in charge of distribution of the company’s products. According to the SEC, a Pfizer Serbia representative paid for a Serbian government-employed doctor’s trip to a conference in Chile. The representative in return asked for the doctor’s consent to increase the use of the Pfizer drugs in his ward.

“Management of the Pfizer branch in Serbia soon discovered the case and fired their employee but continued to implement the agreement after the doctor had threatened to expose the entire case and release information that would have a negative impact on Pfizer’s reputation,” reads the SEC’s complaint.

SEC said the payoffs were made “without the knowledge or approval of officers or employees of Pfizer, but the inaccurate books and records of Pfizer subsidiaries were consolidated in the financial reports of Pfizer.”

Prosecutors agreed to defer prosecution and drop the charges after two years if Pfizer continues to cooperate and take remedial steps. The settlements must be approved by a federal judge, Bloomberg says.