China investigating Sanofi for alleged bribery - report

China is reportedly investigating Sanofi (SNY) for allegedly paying bribes of 1.7M yuan ($277,600) to over 500 Chinese doctors in order to increase sales.

The probe follows a report on Thursday in which a whistleblower accused the French pharmaceuticals company of making the payments.

The inquiry also comes as authorities investigate GSK for bribery and amid visits to other foreign drug companies, including Novo Nordisk, AstraZeneca and Eli Lilly.

From other sites
Comments (4)
  • The Long Tail of Finance
    , contributor
    Comments (1696) | Send Message
    With China, isn't it usually the other way around?
    11 Aug 2013, 04:21 PM Reply Like
  • cn_habs
    , contributor
    Comments (544) | Send Message
    Most multinationals esp. those pharmaceuticals hand out bribes in China period. Whoever believes otherwise must think the world is black and white..
    11 Aug 2013, 11:35 PM Reply Like
  • User 353732
    , contributor
    Comments (5158) | Send Message
    Bribes are both demanded and accepted in China as a routine.
    This "investigation" is just more extortion.
    Bribes are to China what "political contributions" are to the US
    12 Aug 2013, 06:11 AM Reply Like
  • The Geoffster
    , contributor
    Comments (4291) | Send Message
    Opium Wars redux.
    12 Aug 2013, 10:27 AM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs