GlaxoSmithKline

The London-based multinational drugmaker, also known as GSK, supplies key products such as vaccines in China, as well as drugs for lung disease and cancer. In 2013, the company was targeted by Chinese authorities over alleged corruption, price-fixing and quality controls.

Business

GSK says expects China bribes probe to hit performance

PUBLISHED : Saturday, 27 July, 2013, 5:12pm
UPDATED : Saturday, 27 July, 2013, 5:12pm

GlaxoSmithKline expects its financial performance in China to take a hit from Bejing’s probe into bribery allegedly carried out by senior staff, the British pharmaceuticals company said on Wednesday.

“Clearly, we are likely to see some impact to our performance in China as a result of the current investigation, but it is too early to quantify the extent of this,” GSK chief executive said in an earnings update.

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