Topic

GlaxoSmithKlinei

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.

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Stada Arzneimittel, owned by private equity firms Bain Capital and Cinven, is turning to China to enhance its supply security and boost sales presence in Asia’s biggest pharmaceutical market.

videocam

After more than three decades in development and almost US$1 billion in investment, the new vaccine began to be distributed in Lilongwe, the nation’s capital.

At a closed-door trial held last month in Hunan province, one-time high-flying business executive Mark Reilly was handed a three-year suspended prison sentence for his role in the largest corporate bribery scandal involving a foreign firm in China.

When Cathy Palmer first came to Hong Kong as a US prosecutor more than 20 years ago, she was chasing heroin-smuggling triads who later sent a booby-trapped package to her Brooklyn office.

In the wake of the Chinese government's punishment of GSK and some of its former senior executives for corruption, multinationals are changing their behaviour and strategies in China, said industry observers.

China has imposed a record fine of three billion yuan (HK$3.78 billion) on British pharmaceuticals giant GlaxoSmithKline (GSK) for bribing doctors to use its drugs.

A US anti-bribery probe into GSK touched on the firm's Chinese consumer health care business in 2012, internal documents show, suggesting the drugmaker's compliance problems in China could go wider than previously revealed.