On Sep. 4, SEC issued $25mn settlement with Sanofi for bribery.
- Paris-based company Sanofi was charged for corrupt payments to win business.
Alleged Violations
- Schemes in multiple countries and involved bribes to government procurement
officials and healthcare providers to be awarded tenders and buy prescriptions. - In Kazakhstan, used distributors as part of kickback scheme to generate funds.
- Tracked kickbacks in internal spreadsheets where they were coded as marzipan.
- In Middle East, pay-to-prescribe schemes, used to induce healthcare providers.
Enforcement
- $17.5mn disgorgement, $2.7mn in prejudgment interest, and penalty of $5mn.
