Prescriptions for Compliance with the Foreign Corrupt Practices Act: Identifying Bribery Risks and Implementing Anti-Bribery Controls in Pharmaceutical and Life Sciences Companies

摘要

The U.S. Foreign Corrupt Practices Act has become a focal point of enforcement efforts of the U.S. Department of Justice and U.S. Securities and Exchange Commission, as witnessed by the surge in the number oj companies and individuals currently under investigation for, or that recently have settled charges of, bribing foreign government officials to secure business advantages. This heightened level of law enforcement activity has particularly affected pharmaceutical and life sciences companies. For example, enforcement authorities currently are conducting an investigation involving payments made by the six leading manufacturers of orthopedic implants to physicians employed by government-owned hospitals outside the United States, while several well-known pharmaceutical companies are also targets of similar investigations. This Article examines from a practitioner's perspective the specific types and levels of risks that pharmaceutical and life sciences companies confront under the Foreign Corrupt Practices Act that, in some instances, have led to enforcement proceedings. The Article then addresses the elements of an effective Foreign Corrupt Practices Act compliance program to control the bribery risks that arise from the complex and varied ways in which such companies interact with government regulators and customers. The Article provides practical advice on the compliance programs that should be considered by pharmaceutical and life sciences companies to control company- and country-specific bribery risks, particularly in light of the current enforcement environment. While these companies confront a number of unique risks, many of the insights and recommendations in the Article are relevant to companies in other industries that operate in a global environment.