Monday, July 22, 2013

Glaxo says executives appear to have broken Chinese law

Glaxo says executives appear to have broken Chinese law

The signage for the GlaxoSmithKline building is pictured in LondonBy Ben Hirschler and Kazunori Takada LONDON/SHANGHAI (Reuters) - British drugmaker GlaxoSmithKline said on Monday some of its executives in China appeared to have broken the law in a bribery scandal, as it promised changes in its business model that would lower the cost of medicine in the country. GSK is the latest in a string of multinationals to be targeted by Chinese authorities over alleged corruption, price-fixing and quality controls. Chinese police visited the Shanghai office of another British drugmaker, AstraZeneca, a company spokeswoman said on Monday. ...



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