🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

GSK confirms it fired staff for corruption in China in 2001

Published 17/07/2014, 10:01
GSK confirms it fired staff for corruption in China in 2001
GSK
-

LONDON (Reuters) - GlaxoSmithKline said it fired staff in China for bribing officials in 2001 in a case that predates wider allegations of corruption for the British drugmaker in the country by more than a decade.

About 30 staff in GSK's vaccines business were dismissed for bribing Chinese officials, the Financial Times reported on Thursday, after they were found to be involved in bribing Chinese officials and taking kickbacks.

The emergence of the scandal could put the operations of Britain's largest pharmaceutical firm in China under even more scrutiny.

U.S. and UK authorities are already investigating GSK for a much bigger corruption scandal in China, involving what Chinese police have said were elaborate schemes to bribe doctors and hospitals.

GlaxoSmithKline said in a statement it had "zero tolerance" for unethical behaviour of any kind.

"We investigate any allegations put to us and take action where necessary," the company said on Thursday.

"The specific matters occurred more than 12 years ago. We believe appropriate investigation and action was taken at the time."

Chinese police said in May they had charged the former British boss of the drugmaker's China business, Mark Reilly, and other colleagues with corruption.

U.S. authorities are investigating GlaxoSmithKline for violations of U.S. anti-bribery laws in China following the corruption accusations.

Britain's Serious Fraud Office has also launched a formal criminal probe into the company.

(Reporting by Paul Sandle; editing by Jason Neely)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.