Merck discloses probe of possible violations of anti-bribery laws

General Discussion Media & Awareness
#1

Merck discloses probe of possible violations of anti-bribery laws 8/9/2010

Two federal agencies are probing drugmaker Merck (MRK) for possibly violating anti-bribery laws in multiple foreign countries.

Merck, the world’s second-biggest drugmaker by revenue, has received inquiry letters from both the Department of Justice and the Securities and Exchange Commission, the company said in a regulatory filing.

The letters “seek information about activities in a number of countries and reference the Foreign Corrupt Practices Act,” according to Merck.

The act bars U.S. companies from bribing government or corporate officials in other countries to win business, among other things.

usatoday.com/money/industries/health/drugs/2010-08-09-merck-probe-foreign-sales-practices_N.htm

#2

Many US companies are facing this. In other areas of the world nothing gets done without a bribe, it’s a cost of doing business. Its done in the US too but less directly, usually as campaign contributions, to non profits, or to family members.

They might get a fine but there is very little chance this will have anything to do with our situation.

What would be great though is if they got busted for running illegal drug trials in a foreign country, someone that major pharma does.