GlaxoSmithKline says some China executives may have breached law

theflyonthewall.com

Following a meeting with the Chinese Ministry of Public Security to discuss their investigation into GlaxoSmithKline , Abbas Hussain, the company's President International – Europe, Japan, Emerging Markets & Asia Pacific said: “Certain senior executives of GSK China who know our systems well, appear to have acted outside of our processes and controls which breaches Chinese law. We have zero tolerance for any behaviour of this nature. I want to make it very clear that we share the desire of the Chinese authorities to root out corruption wherever it exists. We will continue to work together with the MPS and we will take all necessary actions required as this investigation progresses...In addition, savings made as a result of proposed changes to our operational model will be passed on in the form of price reductions, ensuring our medicines are more affordable to Chinese patients."

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