DOJ, SEC Investigating GlaxoSmithKline for Possible FCPA Violations
By Mary Jacoby | August 13, 2010 12:21 pm

The Justice Department and Securities and Exchange Commission are investigating the pharmaceutical giant, GlaxoSmithKline, for possible violations of the Foreign Corrupt Practices Act, the Financial Times reported.

It has been known for months that the DOJ’s Criminal Fraud Section and the SEC are investigating several pharmaceutical companies for potential FCPA violations. But it has not been publicly known that Glaxo Smith Kline was one of companies under scrutiny.

In April, the DOJ and SEC sent letters to at least five other major pharmaceutical companies: AstraZeneca PLC; Baxter International Inc.; Eli Lilly & Co.; Bristol-Myers Squibb Co.; and Merck & Co

The letters, which were later described to Main Justice, said the agencies were focusing on the companies’ business in several countries, which varied by firm but included Brazil, China, Germany, Greece, Italy, Poland, Russia and Saudi Arabia.

GlaxoSmithKline told FT that it had received “inquiries” from US authorities, but that it disclosed the issue only “reactively,” telling only a few reporters in April. However, the inquiry into the company was not disclosed in news reports at the time.

An industry attorney familiar with the probe told FT the Justice Department was looking at whether the companies had ignored a “systematic risk” inherent in the global drugs business, though it is not clear precisely what activity is under investigation.

Facebook Twitter Linkedin Email

61 Comments

  1. Anderson says:

    …Check this out…

    [...]Wow, superb weblog structure! How lengthy have you ever been running a blog for?[...]…

  2. NBA Picks says:

    [...]the time to read or visit the content or sites we have linked to below the[...]……

    [...]here are some links to sites that we link to because we think they are worth visiting[...]……

  3. modele photo says:

    Trackback…

    [...]The total glance of your site is great, let smartly as the content![...]…

  4. bike games says:

    Websites we think you should visit…

    [...]although websites we backlink to below are considerably not related to ours, we feel they are actually worth a go through, so have a look[...]……

  5. tatuaggi says:

    Blogs ou should be reading…

    [...]Here is a Great Blog You Might Find Interesting that we Encourage You[...]……

Leave a Comment

You must be logged in to post a comment.

Ernst & Young LLP
Dealing with complex issues of fraud, regulatory compliance and business disputes can detract from efforts to succ... more
Covington & Burling LLP
ANALYSIS: The UK Government’s New Anti-Corruption Plan more
Sheppard, Mullin, Richter & Hampton LLP
ANALYSIS: Never Let Them See You Coming—Keys to Setting Up Witnesses Interviews In An Internal Investigation more
Skadden, Arps, Slate, Meagher & Flom LLP
ANALYSIS: International Cooperation, Anti-Corruption and Tax Remain Key Issues for U.S. Enforcement Authorities more
A&L Goodbody
ANALYSIS: Preparing Your Business for Ireland's Impending Anti-Bribery Laws  more
Taft Stettinius & Hollister LLP
ANALYSIS: Chinese President and SEC/DOJ Send the Same Message - Reinforce Your Chinese Anti-Corruption Compli... more
Proskauer Rose LLP
ANALYSIS: U.S. Sentencing Commission Proposes Amendments to Widely Criticized Economic Crime Sentencing Guide... more

Watch Day Two of Attorney General nominee Loretta Lynch's Senate confirmation hearing.