BMS to Pay $14.6M to Settle Bribery Charges in China
Bristol-Myers Squibb will pay $14.6M to settle Securities and Exchange Commission (SEC) charges that its joint venture in China bribed healthcare providers in China, according to an abcNEWS story. The SEC says sales personnel offered staff at hospitals owned or controlled by the Chinese government cash, jewelry, meals, travel and entertainment to expand prescription drug business. The article said the joint venture inaccurately recorded the cash and gifts as business expenses.
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