Pfizer to Pay $60.2 Million to Settle FCPA Probe

Pfizer to Pay $60.2 Million to Settle FCPA Probe

Pfizer Inc. will pay $60.2 million to settle a federal investigation into bribery overseas, in the latest deal by a big drug maker trying to move past a U.S. government crackdown on using illegal payoffs to win international business, The Wall Street Journal reported.

The world’s leading drug maker by sales, Pfizer was accused of bribing doctors, hospital administrators and regulators in several countries in Europe and Asia to prescribe medicines. Authorities uncovered evidence that company units rewarded high-prescribing doctors in China with cellphones and tea sets, while plying Croatian physicians who ordered Pfizer drugs with cash and international trips, according to court filings.