Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  Johnson & Johnson    JNJ

SummaryQuotesChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Biomet To Settle With DOJ, SEC On Bribery Charges For $22.7Mln

share with twitter share with LinkedIn share with facebook
share via e-mail
0
03/26/2012 | 05:50pm CET

Medical-device company Biomet Inc. has agreed to pay about $22.7 million to settle civil and criminal charges stemming from allegations the company's units and agents bribed public doctors in Argentina, Brazil and China for nearly a decade to win business, the Department of Justice and the Securities and Exchange Commission said Monday.

The agencies allege that Biomet and its four units paid bribes from 2000 to August 2008, and employees and managers at all levels of the parent company and the units were involved, along with distributors. Biomet's compliance and internal audit functions failed to stop the payments to doctors even after learning about the illegal practices, the agencies alleged.

A Biomet representative wasn't immediately available for comment.

Biomet agreed to pay a $17.3 million criminal penalty for allegedly violating the Foreign Corrupt Practices Act. In its Justice Department agreement, it is required to implement rigorous internal controls, cooperate fully with the Justice Department and retain a compliance monitor for 18 months. Additionally, the company will pay $5.4 million in disgorgement of profits and prejudgment interest, as part of its separate SEC settlement.

Biomet, a privately held company that sells products used by orthopedic surgeons, is the third medical device firm to enter into a settlement with government agencies as part of the SEC and Justice Department's ongoing global investigation into medical-device companies allegedly bribing publicly employed physicians. Previously, Johnson & Johnson (>> Johnson & Johnson) and Smith & Nephew PLC (SNN, SN.LN) agreed to pay criminal penalties and entered into deferred prosecution agreements related to similar investigations, the Justice Department said.

In January, Biomet said its fiscal second-quarter loss widened as a drop in spine and bone-healing sales as well as higher costs masked the company's revenue growth.

-By Ben Fox Rubin, Dow Jones Newswires; 212-416-3108; ben.rubin@dowjones.com

Stocks mentioned in the article : Johnson & Johnson
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on JOHNSON & JOHNSON
10:57a Sanofi mulls counterbid for Actelion amid J&J talks
12/07 JOHNSON & JOHNSON : The Woodrow Wilson Center (WWC) - Discussion
12/07DJMARKET SNAPSHOT : Dow, S&P 500 Set Intraday Records, But Health-care Slumps On T..
12/07DJMARKET SNAPSHOT : Dow, S&P 500 On Track For Records, But Health-care Slumps On T..
12/05 Une offre de Novartis sur Actelion jugée peu probable
12/05 Astex Joins the Dementia Discovery Fund as a Strategic Investor
12/05 JOHNSON & JOHNSON : and DePuy to Appeal Jury Verdicts in ULTAMET Metal-on-Metal ..
12/05 NOVARTIS : plays down bid for biotech giant
12/03DJJOHNSON & JOHNSON : Boosts Actelion Bid -Bloomberg
12/02 JOHNSON & JOHNSON : The Woodrow Wilson Center (WWC) - Discussion
More news
Sector news : Pharmaceuticals - NEC
12/07 MYLAN : EpiPen maker Mylan to restructure, cut workforce
12/07DJABBOTT LABORATORIES : Seeks to Terminate Alere Deal -- Update
12/07DJPFIZER : Fined $107 Million for Overcharging U.K. for Epilepsy Drug
12/07DJABBOTT LABORATORIES : Seeks to Terminate Alere Deal
12/07DJMARKET SNAPSHOT : Dow, S&P 500 Set Intraday Records, But Health-care Slumps On T..
More sector news : Pharmaceuticals - NEC
News from SeekingAlpha
12/07 Is Rebalancing A Stock Portfolio A Form Of Value Investing?
12/07 Why Is AbbVie A Strong Buy In 2016? Part 1
12/07 Dow 30 Trading Range Screen
12/07 Are Analysts' Long-Term Estimates The Key To Success?
12/06 HOW I ANALYZE POTENTIAL BUY CANDIDAT : The Cases Of Disney And Johnson & Johnson
Advertisement
Financials ($)
Sales 2016 72 061 M
EBIT 2016 22 017 M
Net income 2016 16 371 M
Finance 2016 18 064 M
Yield 2016 2,83%
P/E ratio 2016 18,80
P/E ratio 2017 16,57
EV / Sales 2016 3,94x
EV / Sales 2017 3,67x
Capitalization 302 251 M
More Financials
Chart JOHNSON & JOHNSON
Duration : Period :
Johnson & Johnson Technical Analysis Chart | JNJ | US4781601046 | 4-Traders
Full-screen chart
Technical analysis trends JOHNSON & JOHNSON
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 23
Average target price 126 $
Spread / Average Target 14%
Consensus details
EPS Revisions
More Estimates Revisions
Managers
NameTitle
Alex Gorsky Chairman & Chief Executive Officer
Dominic J. Caruso Chief Financial Officer & Vice President
Paulus Stoffels Chief Scientific Officer
Susan L. Lindquist Independent Director
Charles O. Prince Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
JOHNSON & JOHNSON8.16%302 251
ROCHE HOLDING LTD.-19.14%190 015
PFIZER INC.-2.23%189 272
NOVARTIS AG-20.05%178 826
MERCK & CO., INC.13.71%165 594
SANOFI-4.45%104 494
More Results