An Overview Of Corruption Risks In The Pharmaceutical Sector

It has been argued that the pharmaceutical industry is one of the sectors that is remarkably vulnerable to corruption. With the prioritization of anti-corruption efforts and the concomitant increase in the number of anti-corruption regulations and legislations, pharmaceutical companies (especially multinational firms operating in a wide range of jurisdictions) appear to be straining to adopt and enforce adequate compliance policies. As a result, medicine and medical device companies occasionally find themselves linked to (if not the subject of) anti-corruption investigations. Most recently, in September 2018, an acclaimed pharmaceuticals company based in France agreed to pay USD 25.2 million to resolve bribery allegations.