December 31, 2007GSK, AstraZeneca And Lilly Investigated For Alleged Wrongdoing In IraqI'm a bit hazy on all the details and accusations, but GlaxoSmithKline, AstraZeneca and Eli Lilly have all received requests from Britain's Serious Fraud Office to turn over documents related to their participation in the UN's oil-for-food program for Iraq. The program has been the source of much controversy and corruption in the past (including former UN Secretary-General Kofi Annan's son if I recall), but it's not clear to me what the three drugmakers are being investigated for. Except you know that it involves money, and lots of it. All the same, it warms my heart any time these three companies are made to sweat a little over their business practices. Stay tuned. Posted by Philip Dawdy at December 31, 2007 11:21 AM
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Hey, There's precious little information to be had in the UK press. Fair enough, I suppose, what with the investigation being ongoing. As far as I can make out we have Iraq, under UN sanctions, being able able to trade oil for humanitarian goods. That's straight forward enough. However, through a process that is unclear to me, contracts had to be tendered for, in the usual way. At this point, Saddam's regime demanded cash (otherwise known as a bribe, or, colloquially, a "bung") for the award of said contracts, which it is alleged was duly paid. I'd just like to add that I was reading up on the whole bribery and corruption thing - in relation to some stuff that was going down in Italy involving the Brentford Massive (GSK). A report I was reading also referenced some stuff that was going on in Germany, so I did a search for that, and came across another report from some official source, or other (it's in the back posts on my blog, if you're interested, in November/December, I think). Anyway, apparently, one third of all bribery cases in Germany involve the health sector. Why does this not surprise me? Matt Posted by: Matthew Holford at December 31, 2007 12:07 PMSorry, it was October: http://itsquiteanexperience.blogspot.com/2007/10/german-prosecutors-probe-again-into.html There's one post before and one after the "German story," which are related... Matt Posted by: Matthew Holford at December 31, 2007 12:15 PMPost a comment
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