New York-based Pfizer is expected to pay at least $60 million to the United States to settle allegations that it paid bribes to companies overseas to obtain business, according to a Wall Street Journal report.
In a Nov. 10 regulatory filing, Pfizer said it had reached agreements in principle with the Securities Exchange Commission and Department of Justice regarding “potentially improper payments” made by Pfzier and Wyeth, a subsidiary Pfizer acquired in 2009. The settlement has not been finalized and the terms could change, according to the report. It is also unclear whether Pfizer or Wyeth will admit to wrongdoing.
In April, Pfizer competitor Johnson & Johnson agreed to pay $70 million to resolve similar allegations that its subsidiaries paid bribes to Greek physicians in exchange for their business, according to the report.
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