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GSK fined in China for bribery

International Desk |
Update: 2014-09-19 07:25:00
GSK fined in China for bribery

DHAKA: China has fined UK pharmaceuticals firm GlaxoSmithKline $490m (£297m) after a court found it guilty of bribery, BBC reports. 

The record penalty follows allegations the drug giant paid out bribes to doctors and hospitals in order to have their products promoted.

The court gave GSK's former head of Chinese operations, Mark Reilly, a suspended three-year prison sentence and he is set to be deported.

Other GSK executives have also been given suspended jail sentences.

The guilty verdict was delivered after a one-day trial at a court in Changsha, according to media.

Chinese authorities first announced they were investigating GSK in July last year, in what has become the biggest corruption scandal to hit a foreign firm in years. The company was accused of having made an estimated $150m in illegal profits

BDST: 1703 HRS, SEP 19, 2014

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