Bribery Alert

Fri, 2017/01/20 - 4:03pm | Your editor
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This is our first shot across the bow of the Goodship Trump. A second company in our portfolio has followed Teva getting into trouble with the US Department of Justice and the US Securities and Exchange Commission, following Teva's fine for bribing state and federal insurance bodies in Mexico, Ukraine, and Russia to boost prescriptions for its multiple sclerosis drug Coapaxone. The last company to have been hit with fines from both for payola is Soquimich, the Chilean miner of potash and lithium. Like Teva it comes under the Foreign Corrupt Practices Act passed by the US legislature, supported by both parties when the Senate Foreign Relations Committee was headed by Frank Church (D-Iowa) and my boss, Clifford Case (R-NJ). That law became a model for other countries aiming to fight payola in winning contracts.

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