US and PRC anti-bribery laws: regulation, risk and prevention in the life sciences industries | Practical Law

US and PRC anti-bribery laws: regulation, risk and prevention in the life sciences industries | Practical Law

This chapter examines the relevant anti-bribery laws of both the US and China applicable to companies in the life sciences industry. It includes a summary of the Foreign Corrupt Practices Act, the PRC anti-bribery laws and life sciences-specific laws, and outlines specific corruption risks faced in emerging markets such as China where the public healthcare systems are largely controlled by the government. The article also sets out best practices for anti-bribery compliance for life sciences companies, to reduce the risk of corruption violations when doing business in these markets.

US and PRC anti-bribery laws: regulation, risk and prevention in the life sciences industries

by Paul V Gerlach, Leslie Shubert and Tang Zhengyu, Sidley Austin
Law stated as at 01 Sep 2007USA (National/Federal)
This chapter examines the relevant anti-bribery laws of both the US and China applicable to companies in the life sciences industry. It includes a summary of the Foreign Corrupt Practices Act, the PRC anti-bribery laws and life sciences-specific laws, and outlines specific corruption risks faced in emerging markets such as China where the public healthcare systems are largely controlled by the government. The article also sets out best practices for anti-bribery compliance for life sciences companies, to reduce the risk of corruption violations when doing business in these markets.