India Pharmaceutical Company Whistleblower Rewards: International Drug Company Professionals Can Earn Large Financial Rewards By Anonymously Exposing Bribes and Fraud by India Pharmaceutical Whistleblower Lawyer Jason S. Coomer
New whistleblower reward laws offer large financial rewards to whistleblowers who expose drug company bribes and fraud. These rewards are available to international pharmaceutical professionals, drug company employees, and others with original information of bribes, fraud, and other illegal conduct. SEC and CFTC bounty actions allow these whistleblowers to anonymously expose illegal kickbacks, accounting fraud, and other violations of the Foreign Corrupt Practices Act through an international whistleblower reward lawyer. These violations can include bribes to paid to India government officials and former India government officials in exchange for public health care pharmaceutical contracts and other drug contracts
If you are aware of illegal international trade practices including violations of the Foreign Corrupt Practice Act (FCPA) by a large pharmaceutical company, please feel free to contact India Pharmaceutical Company Whistleblower Reward Lawyer Jason Coomer via e-mail message or use our submission form.
Whistleblower Reward Laws Target Dangerous Drugs Sold Internationally by Large Corporations
The SEC, CFTC, and DOJ are targeting dangerous drugs that are being sold internationally. The agencies enforce a variety of laws that protect the United States and international trade. Significant violations of the law that endanger the public including the sale of audulterated drugs are one of the targets. These agencies are also targeting multinational companies who violate the Foreign Corrupt Practices Act by paying bribes for drug contracts, health care contracts, and medical device contracts.
Pharmaceutical World Sales Increase to Over $880 Billion Per Year Including Large Sales Increases in the "Pharmering Countries"
Every year over $4.1 trillion (US dollars) is spent worldwide on health services including approximately $850 billion (US dollars) that is spent in the pharmaceutical market on drugs and medications. In 2011, it is estimated that global pharmaceutical sales are expected to grow by 5% to 7% to around $880 billion. This growth in sales is led by the 17 so-called "pharmerging countries," which include China, Brazil, Russia, India, Venezuela, Poland and the Ukraine. These "pharmerging countries", are forecast to see their pharmaceutical spending grow at a 15% to 17% rate in 2011, to between $170 billion and $180 billion overall.
Pharmering Countries Are The Targets for Many International Drug Companies
Eight pharmerging countries are amongst the top 20 world pharmaceutical markets, and China is one of the “top three” or will be in the near future. A few high-profile pharmaceutical companies have been successful in gaining a foothold in these pharmering countries. These footholds include Abbott’s acquisition of Piramal Healthcare in India — a deal that could potentially make the US giant the top player in this country. Bayer's and Novartis' investments in China including Novartis' commitment to invest $1 billion USD in R&D in China and its $125 million USD investment to buy 85 percent stake in a privately held vaccine company. Pfizer has made inroads into the Russian health care system with a discount-card system in Russia Sanofi Aventis has purchased Medley, Brazil’s third-largest pharmaceutical company. GSK and Lilly have also announced anticipated doubling their revenue in emerging markets by 2015.
The Hundreds of Billions of Dollars Lost to Corruption and Fraud are the Target of International Whistleblower Reward Laws
It is estimated that approximately 10 to 25% of public health care procurement spending including drug contracts, medicines, pharmaceuticals, medical equipment, and medical devices is lost to corrupt and fraudulent acts including adulterated drugs. As such, there is an international movement to reward pharmaceutical professionals and health care professionals that expose fraudulent and corrupt practices that cost hundreds of billions of dollars and cost lives. This international movement includes SEC Foreign Corrupt Practices Act Whistleblower Reward Lawsuits and traditional Qui Tam False Claims Act Whistleblower Reward Lawsuits.
Increased Competition and Expansion in the Pharmaceutical Industry Creates Opportunity for Increased Corruption in Pharmaceutical Procement and Expands the Opportunity for Fraud in Pharmaceutical Drug Supply Chains that can create Dangerous Adulterated Drugs
India Pharmaceutical Manufacturing and Supplies Can Be The Basis of Bounty Actions and Other International Whistleblower Reward Laws
Included in this globalization of the pharmaceutical industry is a shift in many international pharmaceutical manufacturing supply chains where raw material supplies for pharmaceuticals, medical supplies, and medical equipment that were traditionally from the United States and Europe are now produced in from China and India as well as other emerging countries. This manufacturing shift create has created an environment where adulterated ingredients to pharmaceuticals, medical supplies, and medical devices may be used in the manufacturing of these products and can create dangerous and defective drugs, medical supplies, and medical devices being purchased by governments and given to patients.
India Defective Medical Devices, India Defective Medical Supplies, and India Adulterated Pharmaceuticals Can Be Dangerous and The Basis of Bounty Actions or other International Whistleblower Reward Laws
In the fiercely competitive medical device, medical supply, and pharmaceutical markets, there are strong economic incentives to search for the cheapest ingredients and methods to produce products. Often these cheaper ingredients and manufacturing locations are in countries where standards and regulations are less stringent and corruption is more common. When large corporations set up subsidiaries and joint venture partners in these countries, good manufacturing practices can often suffer, fraudulent actors can cut corners to reduce costs, and cheaper sometimes toxic materials can be added to the products.
Example of this scenario include the Baxter Heparin Recall in 2008 where Baxter, a US pharmaceutical firm which manufactures approximately 50% of the US heparin products, voluntarily recalled its heparin due to nearly 350 reported adverse events, including 19 deaths. In investigating this case, the USFDA revealed that the recalled heparin products contained a contaminated API. The tainted API, imported from Changzhou SPL China, contained a heparin-like contaminant that was structurally similar to heparin and not recognized in the solution until the FDA developed special testing for it. In March 2008, the FDA announced that they had identified the contaminant to be an altered form of an oversulfated chondroitin sulfate which is not a natural byproduct of the heparin manufacturing process. In April 2008, the US government held hearings and determined the cause to be non-sterile equipment, lack of following proper procedures, and lack of expertise.
Larger Supply Chains Can Have Suppliers and Manufacturers in India
Further, supply chains that are bigger and more complex present more opportunities for fraud. As such, when a large corporation has a supply chain with several international subsidiaries and joint venture partners throughout the world, there are numerous opportunities along the supply chain for fraud to occur including supplier fraud, purchase order fraud, good manufacturing practices fraud, inventory fraud, documentation fraud, export fraud, import fraud, and other pharmaceutical fraud.
Illegal Bribery Schemes Used to Establish An Advantage in a Drug Market or Medical Device Market Can Be The Basis of a Large Whistleblower Reward Bounty Action Under the FCPA
Foreign multinational corporations investing in India or using illegal bribery schemes to unfairly obtain large drug markets in India can often be held accountable when they violate the Foreign Corrupt Practices Act (FCPA) and other anti-bribery laws. These laws prevent government corruption including illegal payments to customs agents, bribes for construction contracts, illegal kickbacks for regulatory approval, and other illegal business practices. Through the Foreign Corrupt Practices Act (FCPA), whistleblowers are encouraged to step up and confidentially report corruption. Under new whistleblower protections, these India whistleblowers and multinational corporation whistleblowers can confidentially report violations through a Foreign Corrupt Practices Act Lawyer and receive large financial rewards for being the first to properly expose significant government corruption.
India International Drug Company Whistleblower Reward Lawyer Handles Internations Bounty Actions and Other International Whistleblower Reward Lawsuits
If you are aware of illegal international trade practices including violations of the Foreign Corrupt Practice Act (FCPA) by a multinational corporation in India, please feel free to contact India Pharmaceutical Company Whistleblower Lawyer Jason Coomer via e-mail message or use our submission form
Corporations that pay illegal kickbacks and bribes to government officials and former government officials in exchange for contracts including large building projects can be brought to justice and made to pay large penalties under the Foreign Corrupt Practices Act and whistleblowers that bring these corporations to justice may be able to collect large economic rewards under the Securities Exchange Act (SEC Whistleblower Bounty Actions) and the Commodity Exchange Act (CFTC Whisteblower Bounty Actions).
International Whistleblower Rewards Can Be Significant
The Illegal Bribe Whistleblower or Illegal Kickback Whistleblower may be entitled to not only the amount of the illegal bribe or kickback, but the benefit of the illegal bribe or kickback. In cases where $100,000.00 bribe is made to obtain a $100 million drug market advantage, the Illegal Bribe Whistleblower or Illegal Kickback Whistleblower may be entitled to 10 to 30% of the $100,000,000.00 and the $100,000.00 translating into a $10 million to $30 million award.
As an US Foreign Corrupt Practices Act Violation Lawyer, Jason S. Coomer commonly works with other powerful illegal international business contract bribe and whistleblower lawyers to handle large Chinese Multinational SEC Corporation Lawsuits.
If you are aware of illegal international trade practices including violations of the Foreign Corrupt Practice Act (FCPA) by a multinational corporation in India, please feel free to contact International Business Whistleblower Reward Lawyer Jason Coomer viae-mail message or use our submission form.