Pharmaceutical Industry Wide Open to Corruption

The global pharmaceutical sector is wide open to corruption abuse, with both governments and companies failing to properly address corruption risks.


That’s according to a new report from Transparency International.

As of the beginning of 2016, one in ten corruption investigations by US authorities involve pharmaceutical companies, significantly higher than the banking sector. Despite the obvious risk, firms are entrusted with a large degree of autonomy, without proper governmental oversight.

The pharmaceutical sector has been largely unchecked for corruption allowing it to develop into one that has allowed profits to be prioritised at the expense of patients’ health.

“The effects of corruption in the pharmaceutical sector and health sector are stark, where it can literally be a matter of life and death,” said Sophie Peresson, Director Transparency International Pharmaceuticals & Healthcare Program. “Where one individual gains from creaming off the top, hundreds more can be deprived from the most basic healthcare, often in the poorest populations of the world.”

“It is shocking that despite scandal after scandal involving pharma companies still policy makers simply are not taking seriously the corrosive effect of corruption. The red flags are being ignored.”

“Governments and pharma companies must recognise their responsibility in fighting corruption and stop turning a blind eye.”


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