Sanofi to Pay $25M to Settle Federal Bribery Charges
Sanofi, the Paris-based pharma giant, agreed to pay more than $25 million to settle claims that it bribed government officials in Kazakhstan and the Middle East.
The settlement, announced by the Securities and Exchange Commission late Tuesday, settles claims that Sanofi officials promised kickbacks—which the company code-named “marzipans”—to Kazakhstani officials for public contracts. Separately, the SEC alleged that Sanofi officials spread bribes through several Middle Eastern countries to get doctors and healthcare providers to subscribe to Sanofi drugs.
The company neither admitted nor denied any wrongdoing as part of the settlement. It has promised to overhaul its internal controls, anti-bribery efforts and to report back to the government on its reform progress for the next two years.