Pfizer has agreed to pay more than $60 million to resolve allegations that some of the pharmaceutical company's subsidiaries bribed government officials and healthcare professionals overseas to influence the approval of Pfizer products.
Civil settlements with Pfizer and Wyeth, which Pfizer acquired in 2009, amount to a $45 million disgorgement of profits. Pfizer agreed to pay more than $26.3 million while Wyeth agreed to $18.8 million. The government claimed Pfizer made a range of improper payments to officials — including hospital administrators, members of regulatory committees and healthcare professionals — in Bulgaria, Croatia, Kazakhstan and Russia to influence Pfizer product approval and sales.
Pfizer H.C.P. Corporation, a wholly-owned subsidiary of Pfizer, also agreed to pay $15 million in penalties. The subsidiary admitted that between 1997 and 2006, it paid more than $2 million in bribes to government officials in Bulgaria, Croatia, Kazakhstan and Russia. Pfizer H.C.P. also admitted that it made more than $7 million in profits as a result of those bribes.
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Civil settlements with Pfizer and Wyeth, which Pfizer acquired in 2009, amount to a $45 million disgorgement of profits. Pfizer agreed to pay more than $26.3 million while Wyeth agreed to $18.8 million. The government claimed Pfizer made a range of improper payments to officials — including hospital administrators, members of regulatory committees and healthcare professionals — in Bulgaria, Croatia, Kazakhstan and Russia to influence Pfizer product approval and sales.
Pfizer H.C.P. Corporation, a wholly-owned subsidiary of Pfizer, also agreed to pay $15 million in penalties. The subsidiary admitted that between 1997 and 2006, it paid more than $2 million in bribes to government officials in Bulgaria, Croatia, Kazakhstan and Russia. Pfizer H.C.P. also admitted that it made more than $7 million in profits as a result of those bribes.
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