Anti-Corruption Compliance in the Pharmaceutical and Medical Devices Industry
Joseph V. Moreno will speak on this panel.
Under the Foreign Corrupt Practices Act of 1977, the United States Department of Justice and the Securities and Exchange Commission are investigating and prosecuting alleged bribery and corruption overseas by US pharmaceutical and medical device companies.
In August, Eli Lilly was accused of bribery in China following earlier law suits against other companies. These law suits have generated global interest in stronger enforcement of anti-corruption and bribery laws and, the addition of new regulations in several countries.
Many countries now require greater transparency and more ethical business practices. However, many multi-national companies remain un-sure of or miss-interpret the regulations of countries, fail to develop robust compliance programs, or fail to train employees, leading them into significant legal risks nationally and globally.