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Wednesday, June 16, 2010

Voluntary disclosure of bribery...and getting away with it

Medtronic Voluntarily Discloses Payments to Doctors - WSJ.com: "Medical-device maker Medtronic Inc. disclosed that it made payments of more than $15.7 million in royalties and consulting fees to U.S. doctors in the first quarter, the first time the big Minneapolis company has provided such details.

In making the voluntary disclosure, Medtronic is stepping ahead of requirements of a new federal law mandating such publication by 2013. But the Medtronic initiative is occurring at a time when federal prosecutors and congressional investigators are increasingly scrutinizing relationships between drug and device companies and doctors.

The vast majority of the payments, or $14.2 million, went to orthopedic specialists and orthopedic surgeons. ..."

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