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December 31, 2007
Drug giants under investigation in Britain
The big U.S. papers all have short stories reprising a longer story -- SFO seizes drug giants' documents -- that ran in the London Sunday Telegraph reporting that the UK's Serious Fraud Office (we need one of those) is looking into whether Big Pharma's GlaxoSmithKline and AstraZeneca were involved in illegal "bribes allegedly paid to Saddam Hussein's deposed Iraqi regime." The companies deny all and say they've been cooperating since the Volcker report on the "oil-for-food" scandal listed them and thousands of other firms. From the Telegraph: The report claimed investigators had uncovered evidence to suggest AstraZeneca had paid $162,000 (£81,000) in bribes to get three contracts worth $2.9m, while GlaxoSmithKline was named as having paid $1m to win nine medicine contracts valued at $11.9m. Both companies vehemently denied the claims at the time.
Posted by Ed Mierzwinski at December 31, 2007 06:59 AM
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