Glaxo pleads guilty to 2001 Chinese bribery allegations

|By:, SA News Editor

GlaxoSmithKline (NYSE:GSK) has confessed to a more than decade-old scandal in which staff were caught bribing Chinese officials.

The admission does not fare well for the company which is also involved in a similar current lawsuit - accused of bribing doctors and officials to boost drug sales in China.

The DOJ is presently investigating the recent allegations. If a pattern is found, the Justice Department will likely take a tough stance towards the company.