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Article: United States Foreign Corrupt Practices Act: High Risks For Medical Device Industry.
- Article from:
- Mondaq Business Briefing
- Article date:
- June 13, 2008
CopyrightCOPYRIGHT 2008 Mondaq Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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On February 12, 2007, Johnson & Johnson acknowledged that it had disclosed to the Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) "that subsidiaries outside the United States are believed to have made improper payments in connection with the sale of medical devices in two small-market countries." That announcement highlights the risks for the medical device industry of violating the Foreign Corrupt Practices Act (FCPA) and reflects a more pervasive trend of increased FCPA enforcement.
Risks for Medical Device Industry Medical device companies are particularly at risk with respect to FCPA violations. The FCPA covers ...