NEW YORK (TheStreet) -- Pfizer (PFE - Get Report) will pay more than $60 million to settle federal probes into whether it paid bribes to win business outside the U.S., according to a published media report.The settlements are expected to be made public by the end of the year, according to the report, published Sunday on The Wall Street Journal's Web site. The report cited anonymous sources familiar with the situation. The settlements come in the wake of a government investigation that has had a broad impact on the pharmaceutical industry, the report noted. Both Pfizer and Johnson & Johnson ( JNJ) provided investigators information about industry practices that could violate the Foreign Corrupt Practices Act, which bans U.S. companies from bribing foreign officials to win business, the report added. > > Bull or Bear? Vote in Our Poll Johnson & Johnson settled a bribery investigation earlier this year, the report said. Federal officials have determined that the Foreign Corrupt Practices Act bans drug companies from paying doctors to encourage them to prescribe medicines, if the doctors work for foreign government-run hospitals, the report noted. Shares of Pfizer closed Friday at $19.53.
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