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From here and Novo Nordisk official press release here.

Interesting little article from the Danish Jylland’s Posten site on how Novo Nordisk, the Danish world leader in diabetes care, partook in the Saddam Hussain Oil-for-Food scheme run when the dictator was in power. The organisation’s head denied the whole thing in 2005: “I would like to inform the Danish public and the UN, that we were exposed to this negative press.”

The Danish pharma giant didn’t only pay large sums of money under the table to the then-dictator, but also went to great lengths to camouflage the illegal payments when scrutinised by the UN, so they could sidestep sanctions against Iraq. They’re now due to pay a 100MDkr (ca. €13.5M) to the US government in fines.

-BHC

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