Pfizer Agrees to Deferred Prosecution Agreement and Payment of $60 Million

On August 7, 2012, Pfizer H.C.P. Corporation, an indirect wholly owned subsidiary of Pfizer Inc., agreed to pay a $15 million penalty to resolve an investigation of Foreign Corrupt Practices Act (FCPA) violations.  In a related matter, Pfizer Inc. and Wyeth LLC reached settlements today with the Securities and Exchange Commission (SEC), under which Pfizer Inc. agreed to pay more than $26.3 million in disgorgement of profits, including pre-judgment interest, to resolve concerns involving the conduct of its subsidiaries.  In 2009, Pfizer Inc. acquired Wyeth.  The latter agreed to pay $18.8 million in disgorgement of profits, including pre-judgment interest, to resolve concerns involving the conduct of Wyeth subsidiaries.[1]