Pharmaceutical giant, GlaxoSmithKline is in hot water in China after reports surfaced of high ranking members of the company bribing doctors in China so they’d give their patients their drugs.
Yesterday, May 14, Chinese officials announced that they had officially charged the former head of the Chinese branch, Mark Reilly, with bribery and corruption. The plot was so deep and intricate that it netted the British company billions of RMB in profits. The current estimates are around 3 billion RMB.
The scandal is the biggest concerning a foreign company in mainland China since the Rio Tinto humiliation of 2009.
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You've got to be cynical here and say they didn't pay someone enough money so they got charged with corruption. Foreigners can't beat the Chinese at that game anyway Actually China is smart and wants to develop homegrown industries and restrict foreign companies in any way they can.
May 16, 2014 22:22 Report Abuse