Calamos Supports Greece
GreekReporter.comGreek NewsJohnson & Johnson Pays $70 Million Dollars in Corruption Charges in Greece,...

Johnson & Johnson Pays $70 Million Dollars in Corruption Charges in Greece, Poland & Romania

U.S. pharmaceutical giant Johnson & Johnson, will pay $70 million dollars after admitting that the company bribed doctors in Greece, Poland, Romania.  The company paid kickbacks in Iraq to win contracts and sell drugs and artificial joints.
Subsidiaries of J & J paid bribed doctors and hospital administrators in Greece, Poland and Romania , the Securities and Exchange Commission and Department of Justice, stated today in filings at the U.S. District Court in Washington.
J & J, based in New Brunswick, New Jersey , used slush funds, sham contracts and off-shore companies in the Isle of Man to carry out the bribery, SEC stated.
Public health system doctors and administrators who ordered J & J products such as artificial knees and hips or prescribed the company’s drugs were rewarded in a variety of ways, including cash and travel benefits.
From 1998 to 2006, J & J earned more than $24 million in profits by bribing Greek doctors to buy surgical implants including artificial knees and hips, SEC said.
The company agreed to pay more than $48.6 million in disgorgement and prejudgment interest, as well as a $21.4 million dollar fine to settle related criminal charges announced by the Justice Department.

See all the latest news from Greece and the world at Contact our newsroom to report an update or send your story, photos and videos. Follow GR on Google News and subscribe here to our daily email!

Related Posts