In this news, we discuss the U.S. government looking into Pfizer’s operations in China.
(Reuters) – Pfizer Inc PFE.N received informal inquiries about its China operations from the US Department of Justice and the US Securities and Exchange Commission (SEC) in June and August, respectively, showed its regulatory brief bit.ly/38geoz2 Thursday.
The Foreign Corrupt Practices Act units of the Department of Justice and the U.S. SEC had searched for documents relating to its Chinese operations, the company said in its file, adding that it was producing documents in accordance with those requests.
In 2012, the drugmaker agreed to pay the main U.S. securities regulator $ 26.3 million in a settlement with the U.S. government following an investigation into its use of illegal payments to earn business abroad, particularly in Russia, Bulgaria, China and Italy.
The Foreign Corrupt Practices Act of 1977 prohibits American and foreign companies whose shares are traded in the United States from bribing government officials in foreign countries.
Report by Mrinalika Roy in Bengaluru; edited by Uttaresh.V
Original © Thomson Reuters
Originally posted 2020-11-06 07:36:10.