Relationship integrity: pharmaceutical companies need to rethink financial compliance risk strategies
Pharma needs to pay closer attention to ensuring the integrity of its third-party relationships, writes Kathy Johnson, vice president life sciences, LexisNexis Risk Solutions Health Care, in an Expert View piece.
Kickbacks can cost you a bundle— hundreds of millions, in fact. Settlements reached between medical device manufacturers and the US Department of Justice (DoJ) for violations of the United States Foreign Corrupt Practices Act (FCPA) have reached nine figures.
Pharmaceutical companies have been fined similar amounts for violations through the DOJ and Securities and Exchange Commission (SEC).
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