FedEx, UPS under SEC investigation online over illegal drug shipments

FedEx and United Parcel Service are under investigation by the Securities and Exchange Commission (SEC) over prescription medication sales by online pharmacies, according to the two US package delivery companies.

According to The Wall Street Journal, which was first to report the matter, the probe formed part of an expanding crackdown against illegal sales of prescription painkillers.

In a statement issued today, FedEx denied any wrongdoing and vowed to cooperate with the investigation.

The Memphis, Tennessee-based company said it did not believe that it had engaged in any illegal activities and would vigorously defend itself in any action that might result from the investigation.

Atlanta, Georgia-based UPS said in a statement it was cooperating with the probe.

It said the company was cooperating with the investigation and was exploring the possibility of resolving the matter.