Pharma Bribery Settlements

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Pfizer Inc. will pay at least $60 million to settle allegations by the U.S. government that the drugmaker paid bribes to win overseas business, according to The Wall Street Journal. The paper, citing “people familiar with the matter,” said in an article published to its website Sunday that settlements are expected to be made public by the end of the year.

Questions:

1. Under what anti-bribery act were the charges brought?
2. In general describe what Pfizer did.
3. What other large healthcare company recently settled a similar suit and for how much?
4. What was your reaction to this video, given the news in the article? Explain.

Source:
AP Staff (2011). Pfizer to Pay Tens of Millions to Settle Bribery Probe: Report. Huffington Post.com, Nov. 21 (Retrievable online at http://www.huffingtonpost.com/2011/11/21/pfizer-to-pay-tens-of-millions-bribery-probe_n_1104875.html)

MorningStar Video (2011). Why Pharma Stocks Are Set for a Long Term Growth. (Retrievable online at http://www.huffingtonpost.com/2011/11/21/pfizer-to-pay-tens-of-millions-bribery-probe_n_1104875.html)