French pharmaceutical company Sanofi disclosed that the U.S. Department of Justice has closed its inquiry into allegations concerning potential violations of the U.S. Foreign Corrupt Practices Act.
In its Form 20-F, Sanofi said has been engaged in discussions with the Justice Department and the Securities and Exchange Commission “regarding allegations that certain subsidiaries outside the United States made improper payments in connection with the sale of pharmaceutical products and whether those payments, if made, fall within the U.S. Foreign Corrupt Practices Act.”
Sanofi said it voluntarily provided information to these agencies and “proactively cooperated in both agencies’ review of the allegations.”
The company added that it was notified by the Justice Department in February 2018 that the agency decided to close its inquiry into the allegations. Sanofi said it is “still cooperating with the SEC’s review.”
This disclosure was first reported by the FCPA Blog, courtesy of FCPA Tracker.