Alexion Pharmaceutical To Pay $21 Million In Foreign Corrupt Practices Act Settlement. Exposing Misconduct.

Alexion Pharmaceutical To Pay $21 Million In Foreign Corrupt Practices Act Settlement

July 15, 2020

Alexion, a Boston-based pharmaceutical company, agreed to pay $21.5 million to settle charges it violated the Foreign Corrupt Practices Act (FCPA). A settlement, announced by the Securities and Exchange Commission (SEC), alleges that the company’s foreign subsidiaries in Turkey and Russia paid government officials to promote their drugs and that their Brazilian and Columbian subsidiaries contracted third parties to create inaccurate financial records. Alexion’s internal accounting service either did not detect these misappropriations or did not report them. The complaint revolves mostly around bribes paid for better treatment of Alexion’s flagship drug Soliris. Soliris is an immunosuppressant drug used to treat patients with rare and life-threatening immune system disorders.

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