Let's face it, "compliance" is one of those catch-all terms that industry professionals use at will but whose meaning or the significance it carries is never fully explained. As a result, the term has attained an aura of mystery, although there really is nothing arcane about it. With the help of a few examples, this article will lay out the foundation for a better understanding of the term in the context of the pharmaceutical market in Russia.
If you are a Russian company that is subject to the U.S. Foreign Corrupt Practices Act (FCPA) or U.K. Bribery Act (BA), now is an excellent time to switch from being merely FCPA or BA-curious to FCPA or BA-compliant.