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 newsTweets 

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
02/27 JOHNSON & JOHNSON : MANAGEMENT'S DISCUSSION AND ANALYSIS OF RESULTS OF OPERATION..
02/27DJJOHNSON & JOHNSON : Prescription Unit List Prices Rose 8.5% Last Year
02/27 JOHNSON & JOHNSON : Drugmakers pledge restraint, but prices will still soar
02/27 JOHNSON & JOHNSON : Completes Acquisition of Abbott Medical Optics
02/26 CHIEF SCIENTIST : Gov't has no interest in exits
02/24 JOHNSON & JOHNSON : Remarks by President Trump at Signing of Executive Order on ..
02/24 JOHNSON & JOHNSON : Fourth Talcum Powder Lawsuit Heads to Trial in Missouri Ovar..
02/24 JOHNSON & JOHNSON : ex-dividend day
02/23 JOHNSON & JOHNSON : S&P upgrades Google's owner to its second-highest ranking
02/23 JOHNSON & JOHNSON : Anti-diarrhea medication ripe for abuse by opioid addicts, a..
More news
Sector news : Pharmaceuticals - NEC
04:18p Valeant predicts tough 2017 with revenue to decline
02:23pDJVALEANT PHARMACEUTICALS INTL : Revenue Falls 13%
08:35aDJASTRAZENECA : FDA OKs Once-Daily Qtern for Type-2 Diabetes
02/27 FTSE ends higher on some positive earnings, insurers slip
02/27DJSANOFI : Lonza to Invest CHF290 Million in New Plant in Switzerland
More sector news : Pharmaceuticals - NEC
News from SeekingAlpha
08:18a Why I Wouldn't Pile Into Quality
08:05a JUST IN CASE : A Back-Of-The-Envelope Stress Test For Your Portfolio
04:34a THE GOOD BUSINESS PORTFOLIO : 2016 4th Quarter Earnings And Performance Review
02/27 ACADIA Pharma Looks Like A Take-Out Target
02/27 SNIPPET ROUNDUP : Cyclacel's Data Dredge And Bristol's Activist Investor
Advertisement
Financials ($)
Sales 2017 74 655 M
EBIT 2017 23 131 M
Net income 2017 18 272 M
Finance 2017 22 793 M
Yield 2017 2,73%
P/E ratio 2017 18,35
P/E ratio 2018 17,20
EV / Sales 2017 4,16x
EV / Sales 2018 3,92x
Capitalization 332 993 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
TrendsBullishBullishNeutral
Technical analysis
Income Statement Evolution
More Financials
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 125 $
Spread / Average Target 2,4%
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 & Executive VP
Charles O. Prince Independent Director
William David Perez Independent Director
More about the company
Sector and Competitors
1st jan.Capitalization (M$)
JOHNSON & JOHNSON6.53%332 993
ROCHE HOLDING LTD.5.42%209 283
PFIZER INC.5.48%204 030
NOVARTIS AG4.72%203 039
MERCK & CO., INC.12.38%181 558
SANOFI4.59%110 124
More Results