Johnson & Johnson (NYSE:JNJ) agreed to pay $70 million in fines to settle federal charges that it bribed doctors in Europe to use its surgical implant and pharmaceutical products and ran a kickbacks scheme to win contracts under the United Nations Oil-for-Food program in Iraq.
The New Brunswick, N.J.-based conglomerate did not admit to or deny any of the allegations, according to a press release from the federal Securities & Exchange Commission.