Teva Pharmaceutical Reengineers Compliance With Data Analytics

Teva Pharmaceutical Reengineers Compliance With Data Analytics

July 08, 2020
MIT SMR Connections is the custom content creation unit within MIT Sloan Management Review.

Complying with anti-corruption regulations has always been a challenge for large multinational enterprises conducting business in many different markets. Over the past 15 years, enforcement of the U.S. Foreign Corrupt Practices Act (FCPA) has increased dramatically, and anti-corruption efforts outside the U.S. have intensified as well. This case study examines an approach Teva Pharmaceutical Industries developed with its consulting partner to identify and manage potential third-party risks to FCPA compliance across its global operations.

Teva needed a way to identify which of its more than 500,000 vendors and customers could create possible FCPA risk — including agents, consultants, distributors, suppliers, vendors, and any other entity or individual facilitating or involved in any transaction with government officials or agencies — and ensure that appropriate due diligence was performed before they were hired or paid.

But Teva’s aspirations went beyond meeting legal requirements. Its officially stated goal was to “build the best and most respected global compliance program in the industry — a program that works in partnership with the business to prevent issues.” That meant business sponsors needed to understand that compliance was a part of their responsibility and that they would be held accountable for their decisions. Accordingly, the compliance department needed to provide the business with the right tools, resources, policies, and training to facilitate the right decisions. In third-party due diligence, specifically, the goal was to transform Teva’s program into a system that other companies would strive to replicate.

To address these challenges, Teva hired a consultant that had both innovative ideas and was willing to partner to develop such a system. Download the full case study report to learn how Teva and its partner worked together to develop a system that will allow the company to meet its goal of building the best global compliance system in its industry.

You can download the case-study in the link below:


Views: 42


You need to be a member of GlobalRisk community to add comments!

Join GlobalRisk community

Our Sponsors

Would you like to reach over 90,000 + Risk Professionals? 



Current Partners Include:





Join GRC Inner Circle - Get Top Risk Resources, Member Support PLUS become our patron

Business Exchange

If your organization delivers products and services that bring value to our members, you are welcome to join our partnership program.

Companies are welcome to setup a business profile page in our Multimedia Business Directory. You will get full control of the page and can include cutting edge possibilities – videos, adverts, presentations, white papers, job offers, Press Releases, product information, company blog, news feeds and more.


Our Knowledge Partners

Request our MEDIA KIT

Our Twitter feed

© 2020   Created by Boris Agranovich.   Powered by

Badges  |  Report an Issue  |  Terms of Service