Pfizer Inc. revealed that it received informal requests relating to its operations in China from the US Department of Justice and the US Securities and Exchange Commission (SEC) in June and August.
According to Pfizer, it is producing records to satisfy requests for documents from the Foreign Corrupt Practices Act units of the Justice Department and the SEC.
The 1977 Foreign Corrupt Practices Act makes it illegal for US firms and those whose stock is traded in the US to bribe foreign government officials.
In 2012, the drugmaker had to shell out $26.3 million as a settlement for illegal payments in winning overseas deals, including those in Russia, Bulgaria, China, the Middle East, and Italy.
China is a big growth market for global pharmaceutical companies. But they have to face tightened regulations, heightened tensions between China and the US, and China’s efforts to promote local generic drugmakers.


Azul Airlines Wins Court Approval for $2 Billion Debt Restructuring and New Capital Raise
CMOC to Acquire Equinox Gold’s Brazilian Mines in $1 Billion Deal to Expand Precious Metals Portfolio
Mizuho Raises Broadcom Price Target to $450 on Surging AI Chip Demand
Fortescue Expands Copper Portfolio With Full Takeover of Alta Copper
United Airlines Flight to Tokyo Returns to Dulles After Engine Failure During Takeoff
California Jury Awards $40 Million in Johnson & Johnson Talc Cancer Lawsuit
HSBC’s $13.6 Billion Take-Private Offer for Hang Seng Bank Gains Board Backing
Strategy Retains Nasdaq 100 Spot Amid Growing Scrutiny of Bitcoin Treasury Model
EU Signals Major Shift on 2035 Combustion Engine Ban Amid Auto Industry Pressure
iRobot Files for Chapter 11 Bankruptcy Amid Rising Competition and Tariff Pressures
FDA Says No Black Box Warning Planned for COVID-19 Vaccines Despite Safety Debate
Shell M&A Chief Exits After BP Takeover Proposal Rejected
Woolworths Faces Fresh Class Action Over Alleged Underpayments, Shares Slide
Ford Takes $19.5 Billion Charge as EV Strategy Shifts Toward Hybrids
SpaceX Begins IPO Preparations as Wall Street Banks Line Up for Advisory Roles
SpaceX Insider Share Sale Values Company Near $800 Billion Amid IPO Speculation
Korea Zinc Plans $6.78 Billion U.S. Smelter Investment With Government Partnership 



