US drug manufacturing company announces agreement in principle to resolve FCPA investigation

In its May 6, 2020 10-Q filing, Alexion Pharmaceuticals, Inc., a Massachusetts-based drug manufacturing company, disclosed that it has reached an agreement in principle to resolve a US Securities and Exchange Commission investigation into Alexion’s compliance with the US Foreign Corrupt Practices Act in connection with the Company’s operations in Brazil, Japan, Russia, Turkey, and Colombia.  The Company disclosed that under this agreement it would pay less than $25 million to the SEC to resolve the claims relating to the SEC’s investigation, but did not provide additional details regarding the nature of the resolution.

Alexion was first notified of the SEC’s investigation when it received an SEC subpoena in May 2015 requesting information concerning the Company’s grant-making activities and compliance with the FCPA.  In October 2015 the US Department of Justice requested that the Company voluntarily provide documents concerning similar topics.  The Company stated that it has cooperated with the SEC and DOJ, and the DOJ recently informed the Company that it had closed its inquiry into these issues.

Form 10-Q

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