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This is an archive article published on November 21, 2011

Pfizer to settle bribery probe: report

Troubled company Pfizer Inc will pay at least 60 million to settle allegations.

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Troubled company Pfizer Inc will pay at least 60 million to settle allegations by the U.S. government that the drugmaker paid bribes to win overseas business,according to The Wall Street Journal.

The paper,citing people familiar with the matter,8221; said in an article published to its website Sunday that settlements are expected to be made public by the end of the year.

In April,health care giant Johnson amp; Johnson agreed to pay 70 million to settle civil and criminal charges of bribing doctors in Europe and paying kickbacks to the Iraqi government to illegally obtain business. Terms of the deal included Jamp;J putting in place a program to make sure it complies with anti-bribery laws across its businesses.

The charges were brought under the Foreign Corrupt Practices Act.

 

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