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Policy makers "simply are not taking seriously the corrosive effect of corruption", study says.
The global pharmaceutical sector is wide open to corruption abuse, with both governments and companies failing to properly address corruption risks, according to new research from Transparency International (TI).
As of the beginning of 2016, one in 10 corruption investigations by US authorities involve pharmaceutical companies, significantly higher than the banking sector, TI reports.
Sophie Peresson, Director Transparency International Pharmaceuticals & Healthcare Programme commented: “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.”
Transparency International’s research found measures to combat corruption "inadequate" across the following areas:
Transparency International identifies four key challenges to preventing corruption in the pharmaceutical sector: