Monday, August 16, 2010

LOLPharma contd. - here comes trouble


"As I mentioned in a speech last week to the Pharmaceutical Regulatory and Compliance Congress, one area of focus will be overseas sales in the pharmaceutical industry. In some foreign countries and under certain circumstances, nearly every aspect of the approval, manufacture, import, export, pricing, sale and marketing of a drug product may involve a "foreign official" within the meaning of the Foreign Corrupt Practices Act. The depth of government involvement in foreign health systems, combined with fierce industry competition and the closed nature of many public formularies, creates, in our view, a significant risk that corrupt payments will infect the process. Our remarkable FCP A unit and our terrific health care fraud unit will be working together to investigate FCP A violations in the pharmaceutical industry in an effort to maximize our ability to effectively enforce the law in this high-risk area. Looking ahead, our FCP A unit will be looking at other areas and industries for stepped-up enforcement where we deem appropriate."
http://www.nytimes.com/2010/08/14/health/policy/14drug.html?_r=1&partner=rss&emc=rss

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