A subsidiary of Pfizer Inc. that paid out millions of dollars in bribes for nearly a decade has agreed to a $15 million settlement with the U.S. Justice Department in a Foreign Corrupt Practices Act investigation.
The subsidiary, Pfizer H.C.P., paid more than $2 million in bribes to government officials in Bulgaria, Croatia, Kazakhstan and Russia, according to charges the government announced today. The company, which entered a deferred prosecution agreement with DOJ, admitted making more than $7 million in profit via the misconduct.
“Pfizer took short cuts to boost its business in several Eurasian countries, bribing government officials in Bulgaria, Croatia, Kazakhstan and Russia to the tune of millions of dollars,” Mythili Raman, a principal assistant attorney general in the DOJ Criminal Division, said in a prepared statement.
Raman also said DOJ "recognizes the significant efforts the company made to eliminate such improper practices, not only by implementing compliance reforms, but also by assisting U.S. authorities in our ongoing FCPA investigations of other companies and individuals.”