Merck Receives US Inquiries Over Practices in Foreign Countries
August 9, 2010
U.S. drug maker Merck & Co. said it has received letters from the federal government seeking information about its activities in foreign countries, in connection with a U.S. anti-foreign bribery law, reports the Wall Street Journal. Merck disclosed in a regulatory filing it has received letters from the Justice Department and Securities and Exchange Commission. The company said it is cooperating with the requests. The company said it believes the inquiries are part of a broader review of pharmaceutical industry practices in foreign countries. The U.S. Foreign Corrupt Practices Act prohibits U.S. companies from paying foreign government officials to assist in obtaining or retaining business. Merck spokesman Ron Rogers said the company hasn''t been charged with an FCPA violation, and Merck has a policy to act in accordance with FCPA and other laws. The Justice Department has said it has been looking into whether pharmaceutical companies are complying with the law.