Bms Paying $14.6m To Settle Sec Charges On Payments In China

WASHINGTON (AP) — Bristol-Myers Squibb will pay $14.6 million to settle charges from U.S. regulators that its joint venture in China gave cash and other benefits to government health care providers in exchange for drug sales. The Securities and Exchange Commission announced the settlement of civil charges Monday with the company, one of the largest drugmakers in the world. The SEC says sales personnel at the company'sjoint venture plied staff at hospitals owned or controlled by the Chinese government with cash, jewelry, meals, travel and entertainment to secure and expand prescription drug business.

 

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