Tuesday, December 3, 2013

Public Health Care Bribes To Government Officials: Glaxo CEO on U.K. China Trade Mission Amid Bribery Probe - Bloomberg

Public Health Care Bribes To Government Officials Can Be The Basis For Large Whistleblower Rewards by International Public Health Care Bribe Lawyer Jason S. Coomer

International whistleblowers can recover large amounts of money for exposing international medicine procurement kickbacks, medicine supply chain bribes, and other violations of the Foreign Corrupt Practices Act.  As such, pharmaceutical representatives, international drug executives, government officials, physicians, health care providers, community activists, and other persons, who are the original source of specialized knowledge of international drug company bribes, international pharmaceutical company illegal kickback schemes, public health medicine procurement bribery schemes, and other illicit payments for drug procurement, medical device procurement, medication, pharmaceutical, and medical equipment contracts.

For more information on this topic and confidential reviews of Public Health Care Bribe Whistleblower Reward Lawsuits, please go to the following web page:  International Medicine Bribe Whistleblower Reward Law Center.

Each Year Approximately $1 Trillion In Public Health Care Contracts Are Obtained Through Bribes and Illegal Kickbacks

Every year over $4.1 trillion (US dollars) is spent worldwide on health services including approximately $750 billion (US dollars) that is spent in the pharmaceutical market on drugs and medications. It is estimated that approximately 10 to 25% of public health care procurement spending including drug contracts, medicines, pharmaceuticals, medical equipment, and medical devices is lost to corrupt and fraudulent acts.  These acts include government official bribes, illegal kickbacks, and other illicit payment and fraud schemes.

Glaxo CEO on U.K. China Trade Mission Amid Bribery Probe - Bloomberg

Glaxo agreed last year to pay a record $3 billion fine in the U.S. to settle allegations that the company illegally marketed medicines. That settlement came with a “Corporate Integrity Agreement” with the U.S. government that requires Glaxo to report any investigation or legal proceedings.

“Ongoing risks include the global regulatory fallout, foremost in the U.S., from any repercussions in China,” Kepler Cheuvreux’s environmental, social and governance research team said in a report on corruption in the pharmaceutical industry last month.

Anti-corruption investigations may also spill over to other countries such as India, Brazil and Russia, especially during election years, according to Kepler analyst Sudip Hazra.
“They could potentially use these precedents in the U.S. and China to embolden them politically,” Hazra said.