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Alexion Pharmaceuticals Resolves $21.5 Million Enforcement Action

alexionsoli

Yesterday, the SEC announced that Alexion Pharmaceuticals (a company that has been under scrutiny since mid-2015) agreed to approximately $21.5 million to resolve an enforcement action based on the actions of foreign subsidiaries involving the company’s primary drug Soliris.

The conduct at issue focused on Alexion Illac Ticarent Limited Sirketi (Alexion Turkey), Alexion Pharma OOO (Alexion Russia), Alexion Pharma Brazil and Alexion Pharma Colombia SAS (all wholly-owned subsidiaries whose books and records were consolidated into Alexion’s financial statements).

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Novartis Joins The Repeat Offender Club – This Time Paying Approximately $347 Million To Resolve An FCPA Enforcement Action

Novartis

What happens when the Greek, Swiss, and South Korean subsidiaries of a Swiss company engage in improper conduct in Greece, Vietnam and South Korea? Why of course, approximately $345 million flows into the U.S. treasury.

Yesterday, Novartis joined the long and growing list of FCPA repeat offenders as the DOJ and SEC announced (see here and here) a combined approximate $347 million enforcement action. (As highlighted in this prior post, in 2016 Swiss pharmaceutical company Novartis coughed up $25 million to resolve a SEC FCPA enforcement action focused on the conduct of its indirect Chinese subsidiaries).

Yesterday’s enforcement action included a DOJ component (in which the company agreed to pay approximately $234 million) and a SEC component (in which the company agreed to pay approximately $113 million).

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Bill Seeks To Transfer Pharma FCPA Civil Settlement Amounts To Pediatric Disease Research

gmiller

Childhood cancer and other rare pediatric diseases are heartbreaking.

But should certain FCPA settlement amounts fund pediatric disease research?

Representative Jennifer Wexton (D-Va) thinks so as she, along with co-sponsors  Tom Cole (R-OK), Peter Welch (D-VT) and Gus Bilirakis (R-FL), recently introduced H.R. 6556 – a bill that seeks to amend the FCPA’s anti-bribery provisions by transferring FCPA civil settlement amounts by pharmaceutical companies to pediatric disease research. The bill is titled the Gabriella Miller Kids First Research Act 2.0. Miller (pictured – died of cancer in 2013 at the age of 10).

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Cardinal Health Resolves $8.8 Million Enforcement Action Based On A Former Entity Maintaining And Operating Marketing Accounts For Certain Customers In China

cardinalhealth

Last Friday the SEC announced that Cardinal Health Inc. agreed to pay $8.8 million to resolve a Foreign Corrupt Practices Act enforcement action.

The action is based on a Cardinal entity (acquired in 2010 and sold in 2018) maintaining and operating marketing accounts for certain customers in China.

In summary fashion, the SEC order states:

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Friday Roundup

Roundup

More on Major League Baseball’s FCPA scrutiny, Siemens, across the pond, ripple, and for the reading stack.

It’s all here in the Friday roundup.

MLB’s FCPA Scrutiny

This prior post highlighted Major League Baseball’s apparent FCPA scrutiny. According to this Sports Illustrated article:

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