Sanofi settles with US SEC over bribery allegations

French pharma major Sanofi (Euronext: SAN) saw its shares fall 1% to 72.42 euros by late morning trading today, after it announced a deal with a US regulator over alleged bribery.

Sanofi says it has reached a civil settlement with the US Securities and Exchange Commission (SEC) fully resolving the SEC's investigation into possible violations of the US Foreign Corrupt Practices Act.

The settlement relates to an investigation by the SEC and US Department of Justice (DoJ) of certain local activities outside the USA and France, namely, in Kazakhstan, Jordan, Lebanon, Bahrain, Kuwait, Qatar, Yemen, Oman, the United Arab Emirates and the Palestinian territory during the period 2006 to 2015. As part of the settlement, the company neither admits nor denies it engaged in any wrongdoing.