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J&J Pays $70M to Settle Bribery Allegations

Cristina Arias/Getty Images(WASHINGTON) -- Johnson & Johnson will pay $70 million to settle U.S. and U.K. charges that it paid bribes to gain business overseas. This comes after being charged by the Securities and Exchange Commission on Friday.

The allegations date back to 1998 when J & J subsidiaries paid bribes to doctors in Greece, Iraq, Poland and Romania to gain contracts or to get them to use the company's products.

J & J has not commented on the allegations.

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