Seeking Alpha

GSK set to escape Chinese corruption charges, execs to be hit

  • Authorities in China are reportedly likely to charge some GlaxoSmithKline (GSK) executives in the country with corruption but not the company itself.
  • Police are investigating allegations that GSK paid up to 3B yuan ($492M) to travel agencies to facilitate bribes to doctors and officials in order to boost drug sales.
  • Criminal charges against GSK would be particularly serious, and could result in hefty fines, disruptions to operations and even the withdrawal of the company's business license. However, it's very rare for the government to indict companies.
Comments (0)
Be the first to comment
DJIA (DIA) S&P 500 (SPY)
ETF Tools
Find the right ETFs for your portfolio:
Seeking Alpha's new ETF Hub
ETF Investment Guide:
Table of Contents | One Page Summary
Read about different ETF Asset Classes:
ETF Selector

Next headline on your portfolio: