Quantcast
Published On: Fri, Sep 19th, 2014

Chinese court fines GlaxoSmithKline almost $500 million for paying bribes

A Chinese court imposed a fine of nearly $500 million on the giant British pharmaceutical company GlaxoSmithKline for bribery, according to a New York Times report Friday.

Image/CIA

Image/CIA

The fine of a record 3 billion yuan ($489 million)  was imposed after a Changsha court ruled , in a one-day trial held in secrecy, the company was paying bribes to doctors to use their drugs.

The verdict follows investigations initiated by China’s Ministry of Public Security in June 2013.

In addition, suspended jail sentences were handed down to the former head of GSK in China, Mark Reilly and four other GSK executives.

There will be no appeal to the ruling and Glaxo said in a statement that it “fully accepts the facts and evidence of the investigation, and the verdict of the Chinese judicial authorities.”

The company notes that the illegal activities of GSK China Investment Co. Ltd (GSKCI) are a clear breach of GSK’s governance and compliance procedures; and are wholly contrary to the values and standards expected from GSK employees. GSK has published a statement of apology to the Chinese government and its people on its website (www.gsk-china.com).

Related: Belgium: Live polio virus solution accidentally released into local water

 

On the DISPATCH: Headlines  Local  Opinion

Subscribe to Weekly Newsletter

* indicates required
/ ( mm / dd ) [ALL INFO CONFIDENTIAL]

About the Author

- Writer, Co-Founder and Executive Editor of The Global Dispatch. Robert has been covering news in the areas of health, world news and politics for a variety of online news sources. He is also the Editor-in-Chief of the website, Outbreak News Today and hosts the podcast, Outbreak News Interviews on iTunes, Stitcher and Spotify Robert is politically Independent and a born again Christian Follow @bactiman63

Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

like_us_on_facebook

 

The Global Dispatch Facebook page- click here

Movie News Facebook page - click here

Television News Facebook page - click here

Weird News Facebook page - click here 

DISPATCH RADIO

dispatch_radio

THE BRANDON JONES SHOW

brandon_jones_show-logo

Archives