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GlaxoSmithKline - USD 500M-ish fine in China...

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  1. #1

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    GlaxoSmithKline - USD 500M-ish fine in China...

    From: GlaxoSmithKline Found Guilty of Bribery in China - WSJ

    A Chinese court found the drug maker's local subsidiary guilty of bribery and fined the company nearly $500 million, capping a scandal that has shaken China's pharmaceutical industry.
    Five of the company's managers, including Mark Reilly, its former top China executive, were convicted of bribery-related charges and received suspended prison sentences, a Glaxo spokesman said Friday.

  2. #2

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    A comment on WSJ sums it up ..

    Found guilty of bribery in the Glorious People's Republic of China? That's like being found guilty of indecent exposure in a nudist colony.
    kimwy66, Cwbguy, jaykay and 3 others like this.

  3. #3

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    Quote Originally Posted by shri:
    A comment on WSJ sums it up ..
    Hmm, i guess that guy is right. Since China is commonplace for corruption, major corporations should just join that band wagon instead of being morally/ethicly better then that.
    Somehow i do believe though he wasnt all that happy when major corporations caused the subprime global crisis or when he is overpaying for his prescriptions. Its only unfair when its involves him personally, and not people who live far away and dont deserve decent lives.