Political Intrigue at 3 Big Pharma Companies
The New York times reported today that Britain’s Serious Fraud Office has demanded documents from GlaxoSmithKline, Astra Zeneca and a British affiliate of Eli Lilly & Company in connections with allegations that the companies paid bribes to secure lucrative drug contracts in Iraq while Saddam Hussein was in power. The 3 companies are accused of violating the United Nations’ oil-for-food program that was instituted in post war Iraq in the 1990s. A report from the fraud office in 2005 accused some 2,200 companies from 40 countries of colluding with the Hussein regime to cheat the UN program out of about $1.8 billion. As I have stated time and time again, drug companies are no different than other companies–profits and stock prices always come before ethics, morality and sometimes the law!
Until next time….
Good Luck and Good Job Hunting!!!!
