Most of us, if we have any sense at all, harbor some healthy distrust of the world’s biggest companies. For good reason we fear the concentrated power of giant corporations. What, after all, is one person compared to the overwhelming might of Facebook, Walmart, or Exxon?… Continue Reading
The UK Serious Fraud Office said Friday it has closed bribery investigations into UK-based GlaxoSmithKline PLC and individuals at subsidiaries of Rolls-Royce Holdings PLC.
SFO director Lisa Osofsky said in a statement there was “either insufficient evidence to provide a realistic prospect of conviction or it is not in the public interest to bring a prosecution in these cases.”… Continue Reading
It has been over five years since the start of the GlaxoSmithKline case that rocked the China healthcare industry. At the time, compliance, audit and legal teams were shocked by the prevalence of integrity and corruption issues that had apparently gone unidentified, despite the widespread practice of generating slush funds through fraudulent travel expense claims.… Continue Reading
GlaxoSmithKline said in a securities filing Wednesday that the DOJ and SEC asked for information about third-party advisers the company hired in China during a corruption investigation there.
GSK said it is also responding to requests from the SFO for more information about the third parties.… Continue Reading
A federal judge in Philadelphia Friday dismissed a civil complaint against UK-based GlaxoSmithKline brought by a British private investigator and his American wife and their China-based company.
Peter Humphrey and Yu Yingzeng, his wife and business partner, sued GSK a year ago.… Continue Reading
A report by David Barboza of the New York Times details how an apparently highly-placed whistleblower in GlaxoSmithKline’s China operation sent the head office in London a series of long, well-written memos about illegal sales practices that directors, executives, and auditors chose to ignore.… Continue Reading
The Securities and Exchange Commission said Friday UK-based pharma GlaxoSmithKline plc will pay a $20 million civil penalty to settle charges that it violated the Foreign Corrupt Practices Act when China-based subsidiaries spent millions of dollars on pay-to-prescribe schemes for several years to pump up sales.… Continue Reading
The U.S. Attorney’s Office for the Eastern District of Pennsylvania filed an indictment Wednesday charging five people in an alleged scheme to steal trade secrets from pharma giant GlaxoSmithKline.
The defendants are:
Yu Xue, 45, of Wayne, Pennsylvania
Tao Li, 42, of Nanjing, China
Yan Mei, 36, of Nanjing, China
Tian Xue, 45, of Charlotte, North Carolina, and
Lucy Xi, 38, of West Lake Village, California. … Continue Reading
British investigator Peter Humphrey and his American wife Yu Yingzeng have been released early from prison in China.
Humphrey and Yu were jailed in August last year for illegally obtaining and selling personal information of Chinese citizens.… Continue Reading
China is pushing reforms at public hospitals in the wake of widespread complaints about inadequate healthcare services and corruption related to drug sales.
According to a guideline issued by the State Council, reforms that were piloted in 17 cities in 2010 will be expanded to the country’s 6,800 public hospitals by 2017.… Continue Reading