Showing posts with label GSK’s China Troubles FCPA and Country Corporate Culture vs. Rouge Executives -. Show all posts
Showing posts with label GSK’s China Troubles FCPA and Country Corporate Culture vs. Rouge Executives -. Show all posts

Thursday, September 12, 2013

September 12, 2013 GSK’s China Troubles FCPA and Country Corporate Culture vs. Rouge Executives -


We previously covered allegations in China that GlaxoSmithKline (GSK) used a network of more than 700 travel agencies and other firms to channel bribes to health officials since 2007. According to two recent stories in FiercePharma, the Department of Justice is “on its tail.”
They report: “Prosecutors have been eyeing pharma (and other industries) for
violations of the Foreign Corrupt Practices Act (FCPA), and several drugmakers
have paid millions of dollars to settle corruption probes. Though Glaxo is based in Britain, its shares are listed in the U.S., making it vulnerable to FCPA prosecution.
And now, Glaxo is a natural target. According to Chinese authorities, Glaxo's employees funneled almost $490 million in bribes to scores of doctors, all in an effort to meet aggressive sales-growth targets. Because doctors are civil servants in
China--technically, ‘government officials’--kickbacks to physicians could
easily run afoul of the FCPA.  
- See more at: http://www.policymed.com/2013/09/gsks-china-troubles-may-be-country-corporate-culture-vs-rouge-executives.html#sthash.BQXlmAJx.dpuf