At the 17th Annual Pharmaceutical and Medical Device Compliance Congress last month in Washington DC, Paul Hastings Partner Gary Giampetruzzi and FCPA Blog Contributing Editor Richard Bistrong exchanged perspectives on pharma compliance risks.… Continue Reading
Here’s the FCPA disclosure from medical device-maker Stryker Corporation’s Form 10-Q filed with the SEC on July 23:
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In 2010 we received a subpoena from the United States Department of Justice (DOJ) related to the sales and marketing of the OtisKnee device.
Medical device maker Zimmer Holdings, Inc. said in an SEC filing yesterday that it can’t predict the outcome of DOJ and SEC investigations into its overseas sales practices.
The enforcement agencies opened their investigations in 2007.… Continue Reading
From the members area of the FCPA Blog, here’s Stryker’s latest FCPA disclosure in its SEC filing this week:
Filing Date Oct/22/2012
Investigating Entity Securities and Exchange Commission
Excerpt In 2010 we received a subpoena from the DOJ related to sales, marketing and regulatory matters related to the Stryker PainPump.… Continue Reading
Here’s Michigan-based Stryker Corporation’s full FCPA disclosure from its Form 10-Q filed with the SEC on July 24. The company makes medical devices used for implants and reconstructive procedures.
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In 2007 we disclosed that the United States Securities and Exchange Commission (SEC) made an inquiry of us regarding possible violations of the Foreign Corrupt Practices Act (FCPA) in connection with the sale of medical devices in certain foreign countries.
Biomet Inc. today became the latest medical device maker to settle FCPA offenses.
The Warsaw, Indiana company will pay a criminal fine of $17.3 million in its settlement with the DOJ, and $5.5 million in disgorgement of profits and pre-judgment interest to the SEC.… Continue Reading
U.K.-based medical device maker Smith & Nephew plc agreed to pay $22.2 million to settle Foreign Corrupt Practices Act offenses committed by its U.S. and German subsidiaries.
The company admitted bribing government-employed doctors in Greece for more than a decade to win business.… Continue Reading
Johnson & Johnson will pay a $21.4 million penalty to resolve criminal FCPA charges with the DOJ and $48.6 million in disgorgement and prejudgment interest to settle the SEC’s civil charges.… Continue Reading