October 5, 2015
Posted January 28, 2016
New York-based pharmaceutical company Bristol-Myers Squibb will pay $14 million to settle SEC charges that its joint venture in China made cash payments and provided other benefits to health care providers at state-owned and state-controlled hospitals in China in exchange for prescription sales. According to the SEC’s order instituting settled administrative proceedings, between 2009 and 2014, BMS China sales representatives sought to secure and increase business by providing health care providers in China with cash, jewelry, meals, travel, entertainment, and sponsorships for conferences and meetings. SEC
Tagged in: FCPA, Securities Fraud,