Johnson & Johnson, Philips' healthcare operations in Brazil accused of operating illegal cartel

The following has not yet been verified. Please improve it by logging in and editing it. If you believe that is not sufficient to solve the problem, please discuss it with the community on the Talk Page. If you think that this article should be removed, please contact [email protected]

Subsidiaries of Johnson & Johnson and Philips 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 Oscar Iskin & Cia Ltda. (AFP)

“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. (AFP)

On July 5, 2017, police executed arrest warrants for the current CEO of General Electric 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 & Johnson and Philips along with 42 other sites were raided as part of the investigation, according to police. (Wall Street Journal)

Johnson & Johnson, and Koninklijke Philips N.V. have both released statements stating they are cooperating fully with authorities. (Reuters)

Image information

  • TODO tags

      Is there a problem with this article? [Join] today to let people know and help build the news.
      • Share
        Share

      Subscribe to our newsletter

      Be the first to collaborate on our developing articles

      WikiTribune Open menu Close Search Like Back Next Open menu Close menu Play video RSS Feed Share on Facebook Share on Twitter Share on Reddit Follow us on Instagram Follow us on Youtube Connect with us on Linkedin Connect with us on Discord Email us