At the beginning of this year, China’s president Xi Jinping promised to fight both “tigers” and “flies” — high-ranking and low-ranking corrupt officials — in his crackdown on corruption. Since then, the anti-graft campaign has led to the conviction of Bo Xilai and to the front-page investigations of foreign companies in the pharmaceutical and oil and gas sectors, among others.… Continue Reading
Posts Tagged: Glaxo
A police investigation in China has found that drugmaker GlaxoSmithKline’s alleged bribery of doctors ‘was coordinated by the British company and was not the work of individual employees,’ according to a report Tuesday by Reuters.… Continue Reading
Pharmas have told their sales teams to halt all activity in China to avoid being caught in the nationwide “enforcement storm,” according to the Guangdong-based Yangcheng Evening News.
“It is rumored that police in plain clothes are patrolling in hospitals; drug sales representatives will be fined 500 yuan ($81) and regional sales managers 1000 yuan ($162) once being caught in hospitals,” an unidentified sales representative told the paper.… Continue Reading
The entry of the Chinese government into the international fight against corruption and bribery is truly a game-changer. While there may be many reasons for this very public move by the Chinese government, it is clear that foreign companies are now on notice.… Continue Reading
China state media reported Saturday that French drugmaker Sanofi SA is under investigation for allegedly bribing doctors to increase sales.
“Over the last decade, since the passage of the Sarbanes-Oxley Act in 2002, publicly traded corporations have poured significant resources into their compliance programs to prevent wrongdoing, or to at least be an early warning system for what might become a problem.… Continue Reading
The GSK China bribery investigators are probably going to name several other significant foreign companies in the coming days and weeks. The State Administration for Industry & Commerce (SAIC) has already announced that investigations into several other pharmaceutical companies have begun.… Continue Reading
Here’s a thoughtful comment from a U.S.-based compliance professional who asked not to be named:
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I think that as China continues to march to the largest economy in the world it is going to have increasing influence in the world in many areas.… Continue Reading
China state media reported Friday that police have detained 18 more people in the growing bribery investigation of U.K. drug maker GlaxoSmithKline.