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US DoJ launch investigation into Acadia Pharmaceuticals

Image Credit: Another Believer

The US Department of Justice has launched an investigation into the sales and marketing practices of San Diego firm Acadia Pharmaceuticals in relation to Nuplazid, a psychosis drug for those with Parkinson’s disease.

Nuplazid, an antipsychotic for those suffering from hallucinations and delusions with Parkinson’s, received FDA approval in 2016.

Sanofi to pay $25m over Kazakhstan and Middle East corruption allegations

French pharma giant Sanofi will pay more than $25 million to settle corruption charges related to their subsidiaries in Kazakhstan and the Middle East.

The French multinational are alleged to have made corrupt payments to win business in Eurasia and the Middle East. Thus without admitting or denying the allegations, Sanofi have agreed to pay $17.5 million in disgorgement, $2.7 million in prejudgment interest and a civil penalty of $5 million, according to the US Security and Exchange Commission.

Allergan fined £15m over failure to disclose merger discussions

Allergan has been fined $15 million by the Security and Exchange Commission (SEC) after committing disclosure violations during merger talks with “potentially friendlier merger partners” in a bid to fend off a hostile takeover attempt by Valeant Pharmaceuticals.

AstraZeneca to pay £5.52 million to settle bribery probe

According to US regulators, AstraZeneca is to pay $5.52 million to resolve a foreign bribery probe investigating payments made to officials at Chinese and Russian state-controlled healthcare providers stretching as far back as 2005 until 2010.

Mylan shells out $32.5m to cover tax inversion fines

Mylan image

Mylan will pay five of its top executives an early $32.5 million to cover penalties from the company’s plans to move overseas, as it presses ahead with a deal with Abbott.

In a so-called ‘tax inversion’, US-based Mylan is looking to purchase assets from Abbot’s European generics business for $5.3 million – and move its legal address to the Netherlands in the process.

This will lower its tax rate from around 25% down into the ‘high teens’, according to the company’s Securities and Exchange Commission (SEC) filing.

GSK’s Stiefel accused of shares fraud

The Securities and Exchange Commission (SEC)

The US financial regulator has charged a subsidiary of GlaxoSmithKline with defrauding staff by buying back shares from them at less than they were worth.

The Securities and Exchange Commission (SEC) says dermatology products manufacturer Stiefel Laboratories, bought by GSK two years ago, used low valuations for stock buybacks from 2006 to 2009.

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