Foreign Corrupt Practices Act Deferred Prosecution Agreement
To resolve a Foreign Corrupt Practices Act (FCPA) investigation, Pfizer subsidiary Pfizer H.C.P. Corporation agreed to pay a $15 million penalty and enter into a deferred prosecution agreement with the Department of Justice (DOJ). The DOJ filed a two-count criminal information charging Pfizer H.C.P. with conspiracy and violations of the FCPA in connection with improper payments made to government officials in Bulgaria, Croatia, Kazakhstan, and Russia. According to the DOJ, between 1997 and 2006, Pfizer H.C.P. made more than $2 million in improper payments to hospital administrators, members of regulatory and purchasing committees, and other health care professionals in these countries in order to influence decisions regarding the approval and registration of Pfizer products, the award of pharmaceutical tenders, and the level of sales of Pfizer products. Pfizer and Wyeth LLC (acquired by Pfizer in 2009) also reached settlements in the matter with the Securities and Exchange Commission (SEC) (see Pfizer instance, “Foreign Corrupt Practices Act Violations – SEC Settlement”).
- Misconduct Type
- Enforcement Agency
- Contracting Party
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- Deferred Prosecution Agreement
- Date of DPA Announcement