Sanofi Confirms $25.2 Million Civil Settlement With SEC

Pharmaceutical company Sanofi confirmed it reached a civil settlement with the Securities and Exchange Commission to fully resolve the agency’s investigation into possible violations of the Foreign Corrupt Practices Act.

Sanofi said it consented to pay about $25.2 million and agreed to a two-year period of self-reporting on the effectiveness of its enhanced internal controls and anti-bribery and corruption compliance program.

The SEC said earlier that the company agreed to resolve charges that its Kazakhstan and the Middle East units made corrupt payments to win business.

The SEC’s order alleged that in Kazakhstan, distributors were used as part of a ...