Pfizer Pays $60 Million to Settle Foreign Bribery Charges

”Pfizer subsidiaries in several countries had bribery so entwined in their sales culture that they offered points and bonus programs to improperly reward foreign officials who proved to be their best customers,” said Kara Brockmeyer, chief of SEC’s foreign enforcement division.
So, Pfizer agreed to pay a $60 million penalty to settle the bribery charges. While $60 million may seem like a large amount of money, it’s really a drop in the bucket for a company like Pfizer. What’s left undetermined is if the penalty will effectively change the sales culture at the huge pharma company. Ethics aside, Pfizer officials may have determined that from a cost-benefit analysis it makes sense to pay these type of fines. The profits generated by the illegal activity surely outweigh the fine they paid. These allegations stem from as far back as 2001 and involve countries such as China,Italy, Russia, Croatia and other Eastern European countries.
As long as the bottom line isn’t severely affected, it’s business as usual for these big companies.