Dishonest & Unethical Conduct At Abbott Nutrition

In its dealings with Phoenix Intelligence P/L regarding an RFP for supply of media auditing services in 2017 Abbott Nutrition Vietnam, a subsidiary of US registered company Abbott Laboratories, is alleged to have engaged in illegal and unethical conduct in a foreign market to contravene the FCPA under Chapter 8 of the FSG as amended 2004, and the Sarbanes-Oxley Act.

Abbott's alleged dishonest and unethical conduct between February to May 2017 is summarized as;
1. Repeated misrepresentations on March 8 and 9 designed to falsify Abbott's intentions regarding approval/proceeding with Phoenix's audit proposal.
2. Copying and publishing a total of 33 items of confidential information stolen from Phoenix's audit proposals clearly marked as “strictly confidential” and distributing this information to competitive audit companies in the form of;
(a) An audit brief issued March 21 that purloined "all rebates and discounts are passed to Abbott" as the audit’s primary objective and listed all 10 Phoenix service descriptions (and objectives) to frame the audit's scope,
(b) A document titled Q&A issued March 23 responding to queries from competitive audit companies that restated the above objectives and service descriptions and disclosed Phoenix’s strategy for recovery of rebates, and
(c) A revised audit brief issued March 27 in the form of 17 verbatim and reworded service objectives and strategies.
3. Denial of any responsibility for financial losses incurred by Phoenix as a result of Abbott's disclosure of confidential information thieved from audit proposals.
4. Failure to act in an honest, fair and ethical manner in violation of Abbott's stated code of business conduct as well as breaches of confidentiality and trust.
5. Intimidation by T&G Law Firm on behalf of Abbott in an email dated June 13 that threatened defamation proceedings unless Phoenix abandoned compensation claimed against Abbott, and
6. Extortion applied by T&G Law Firm on behalf of Abbott in an email dated June 26 that demanded Phoenix sign false statements to retract the truth regarding Abbott's dishonorable practices and supported this demand with a threat of unspecified litigation in multiple jurisdictions.

Abbott's senior global management (Mr. Miles White CEO and Mr. Daniel Salvadori EVP) are aware of this behavior and have chosen to remain silent. Because applicable laws in Vietnam impose inadequate penalties as compensation, Abbott apparently believes it can operate dishonorably with impunity.

Abbott Nutrition is a healthcare company with unwholesome business practices and cannot be trusted. Abbott Nutrition has allegedly operated outside behavioral norms of business ethics and legality to benefit itself. The purpose of this posting is to alert employees, suppliers and the Healthcare Industry to Abbott's alleged dishonest and unethical conduct as a matter of public interest.

 

YAWN

 

Know Abbott has a rep for questionable business practices. Looks like their lawyers earned their fee on this one, depending on your POV. Nasty

 

Such conduct is consistently with Abbott's marketing and sales practices. Miles White has much to answer for.

 

Such conduct is consistent with Abbott's marketing and sales practices. Miles White has much to answer for.

 

Nobody cares about Milk.

 

And Nam is a shithole

 

Did you zipper heads eat some bad dog meat ?

 

Heard that Abbott Nutrition Nam country manager supported marketing dept effort to thieve confidential info and use for Abbott's benefit. Gotta be careful who you trust.

 

It seems like litigation in Vietnam is not an effective solution here. Perhaps the FTC or SEC should be involved? Either organization would probably come down on Abbott heavily.

 

This is nothing compared to what is going on in the U.S. with the Vascular division.

 

To bring this unfortunate series of events to a satisfactory conclusion, I suggest you use social media to embarrass Miles White and Daniel Salvadori into offering suitable compensation. Does anyone have a better suggestion?

 

From what I hear most of these Asian markets are shitholes anyway. A colleague in finance advised that an audit uncovered accounting irregularities between suppliers, marketing staff and senior management in Taiwan in 2015. These irregularities apparently dated back 5 or more years but were hushed up. Abbott's GM retired and a replacement GM allowed similar practices to continue until he resigned in 2017. Expecting a level playing field in countries where corruption prevails is not realistic.

 

This is just minor stuff compared with what's going on elsewhere in Abbott.

 

Maybe, however collaboration between a supplier and employees (including senior management) to collectively siphon off and share around 32% of Abbott's Pediatric A&P budget over an extended period of 7 years is serious stuff. Problems associated with quality of recruitment appear to be a recurrent issue for Abbott in Vietnam and Taiwan and may be operational across the Asia region.

 

The unethical and illegal behavior I have seen in the APN side is too much. Especially from these managers like Z and RS. I might go to the government and spill the beans.

 

"spill the beans"

DORK

 

What a horror story. GM in Vietnam operates like a taker. Need to teach Abbott an expensive lesson that such behavior will not be tolerated. Get it on!