Glaxo pleads guilty to 2001 Chinese bribery allegations

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.

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Comments (1)
  • canb888
    , contributor
    Comments (703) | Send Message
    My guess is the Chinese government would fine GSK something like $20 Million but the US would fine it over $2,000 Million ($2B or 100 times China's fine). Let's see how the DOJ continue to rob the shareholders like they are doing to the banks instead of jailing the executives who made the bad decisions. JIMHO.
    17 Jul 2014, 09:21 AM Reply Like
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