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This is an archive article published on August 8, 2012

Pfizer pays $60 mn to settle bribery charges

As early as 2001,Pfizer sales representatives tried to conceal the bribes by recording them as legitimate business expenses for travel,entertainment and marketing purposes,the agency said.

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Pfizer has agreed to pay the US government $60 million to settle allegations that its employees bribed doctors and other foreign officials in Europe and Asia to win business and boost sales.

The Securities and Exchange Commission said today that Pfizer’s overseas subsidiaries made illegal payments to health care officials in China,Italy,Russia,Croatia and other Eastern European countries.

As early as 2001,Pfizer sales representatives tried to conceal the bribes by recording them as legitimate business expenses for travel,entertainment and marketing purposes,the agency said.

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