Watcha gonna do when they come for you!
In most industries, word of an investigative subpoena or a regulatory inquiry can send share prices tumbling. In the pharmaceutical industry, it is more likely to generate a shrug or even a yawn.
Almost every major drugs company that does business in the US is facing at least a couple of federal and state investigations into their sales, pricing or distribution practices.
Several, including Schering-Plough and Purdue Frederick, have recently pleaded guilty to corporate criminal charges and paid hundreds of millions of dollars in fines. Bristol-Myers Squibb recently completed a two-year probation period that put a government monitor in its boardroom.
Is it any wonder that Pfizer and Merck recently promoted lawyers to the roles of chief executive and global number two respectively?
More at the FT
In most industries, word of an investigative subpoena or a regulatory inquiry can send share prices tumbling. In the pharmaceutical industry, it is more likely to generate a shrug or even a yawn.
Almost every major drugs company that does business in the US is facing at least a couple of federal and state investigations into their sales, pricing or distribution practices.
Several, including Schering-Plough and Purdue Frederick, have recently pleaded guilty to corporate criminal charges and paid hundreds of millions of dollars in fines. Bristol-Myers Squibb recently completed a two-year probation period that put a government monitor in its boardroom.
Is it any wonder that Pfizer and Merck recently promoted lawyers to the roles of chief executive and global number two respectively?
More at the FT
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