WASHINGTON (MarketWatch) -- Johnson & Johnson on Friday agreed to pay $70 million to settle charges brought by the U.S. Securities and Exchange Commission and the Department of Justice it bribed public doctors in several European countries and paid kickbacks in Iraq. The SEC alleges that since at least 1998, subsidiaries of the company paid bribes to public doctors in Greece who selected J&J surgical implants, public doctors and hospital administrators in Poland who awarded contracts to J&J, and public doctors in Romania to prescribe J&J pharmaceutical products. J&J subsidiaries also paid kickbacks to Iraq to obtain 19 contracts under the United Nations Oil for Food Program, the SEC said. A resolution of a related investigation by the United Kingdom Serious Fraud Office is anticipated.
via marketwatch.com
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