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Growth Opportunities Come With Danger: As Japanese Life Sciences Companies’ Outward Bound Investments Continue to Grow, So Do the Significant Compliance
December 09, 2016
Gary Giampetruzzi, Hiroyuki Hagiwara & Jessica Montes
The global pharmaceutical and life sciences sector is growing at a record pace—thanks in no small part to the contributions of Japanese multinationals, which year after year continue not only to sustain Japan as the second largest pharmaceutical market in the world, but also to invest billions of dollars in acquisitions, mergers, and joint ventures in foreign markets. However, following the landmark $646 million settlement between Olympus Corporation of the Americas—a subsidiary of Japanese medical device company Olympus Corp.—and the U.S. Department of Justice in March 2016, it has become increasingly clear that in order to take full advantage of growth in the life sciences sector, Japanese multinationals must move quickly to take a more proactive approach to assessing and managing anti-corruption and other compliance risks with respect to their overseas operations, or the news could well go from good to bad.
This article originally appeared in Bloomberg BNA
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