Pharmaceutical giant Eli Lilly and Co. agreed December 20 to pay $29.4 million to settle charges by the U.S. Securities and Exchange Commission that it violated the Foreign Corrupt Practices Act by making improper payments to officials in Russia, Brazil, China and Poland.
According to the SEC complaint filed in the U.S. District Court for the District of Columbia, Eli Lilly subsidiaries made payments to win millions of dollars of overseas business. Lilly did not admit or deny the allegations, but in a statement the company said it “believes that this civil settlement brings resolution to issues from the past and is in the best interest of the company.”
