• Revision ID 77195 REVISION
  • 2018-07-05 10:12:02
  • by Chet Long (talk | contribs)
  • Note: +thumbnail of pd-logo
 
   
Title Title
Johnson-and-Johnson-Logo-880x660 Johnson & Johnson, Philips' healthcare operations in Brazil accused of operating illegal cartel
Summary Summary
  Multinational healthcare companies in Brazil are alleged to have conspired to fix prices of medical devices, from 1996 till 2017
Highlights Highlights
Content Content
  Subsidiaries of <a href="https://en.wikipedia.org/wiki/Johnson_%26_Johnson">Johnson &amp; Johnson</a> and <a href="https://en.wikipedia.org/wiki/Philips">Philips</a> in Brazil have been accused of operating a cartel to manipulate the prices of healthcare equipment in the country. The cartel, is alleged by prosecutors, to have operated for nearly 20 years from 1996 until 2017. The cartel has been nicknamed the "international auctions club", and is alleged to contain at least 33 organizations lead by Brazilian medical instrument distributors <a href="https://www.bloomberg.com/profiles/companies/6172039Z:BZ-oscar-iskin-&amp;-cia-ltda">Oscar Iskin &amp; Cia Ltda</a>. (<a href="https://www.yahoo.com/news/ges-latin-american-ceo-21-others-arrested-brazil-205633648.html"><em>AFP</em></a>)
  "Top executives from multinational medical equipment manufacturers arranged among themselves who would win contracts by paying a 13 percent commission on those contracts to Iskin," alleged the Rio de Janeiro prosecutor’s office statement. (<a href="https://www.yahoo.com/news/ges-latin-american-ceo-21-others-arrested-brazil-205633648.html"><em>AFP</em></a>)
  On July 5, 2017, police executed arrest warrants for the current CEO of <a href="https://en.wikipedia.org/wiki/General_Electric">General Electric</a> Latin America, Daurio Speranzini Jr., and 22 other suspects. Speranzini was arrested for his time employed at Philips Medical Systems, prior to taking the position at GE; prosecutors have not stated that General Electric is a target of the anti-corruption probe. However, the Brazilian headquarters of Johnson &amp; Johnson and Philips along with 42 other sites were raided as part of the investigation, according to police. (<a href="https://www.wsj.com/articles/brazilian-police-search-philips-offices-1530744553"><em>Wall Street Journal</em></a>)
&nbsp Johnson &amp; Johnson, and Koninklijke Philips N.V. have both released statements stating they are cooperating fully with authorities. (<a href="https://www.reuters.com/article/us-brazil-fraud/brazil-police-arrest-ge-latin-america-head-21-others-in-probe-idUSKBN1JU2DF"><em>Reuters</em></a>)
Categories Categories
  Brazil, Business, Corruption, General, Health, Justice, Latin America, Law, Brazil
Article type Article type
  briefing
Tags Tags
  Brazil, corruption, Crime, healthcare
Author byline Author byline
No No
Has hero Has hero
No No
Hero Alignment Hero Alignment
  full
Hero Image URL Hero Image URL
None None
Featured Image URL Featured Image URL
  https://s3-eu-west-1.amazonaws.com/wikitribune-uploads-master/2018/07/05101054/Johnson-and-Johnson-Logo-880x660.png
Sources Sources

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