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Tuesday 27 May 2014

GlaxoSmithKline to be investigated by UK fraud body !

GlaxoSmithKline, the British-based pharmaceutical firm, is to be investigated by the Serious Fraud Office (SFO) over its "commercial practices".
The company said it would "co-operate fully" with the SFO.
Earlier this month, Chinese authorities accused GSK staff of bribing government and hospital officials in the country.
GSK refused to comment on whether the SFO's investigation was connected to this incident.
The pharmaceutical giant is also facing a criminal investigation into similar allegations in Poland and Iraq.
If the allegations in either country are proved, GSK may have violated both the UK Bribery Act and the US Foreign Corrupt Practices Act.
It is illegal for companies based in the US or UK to bribe government employees abroad.
In a statement, the Serious Fraud Office confirmed it had "opened a criminal investigation into the commercial practices of GlaxoSmithKline plc and its subsidiaries".
More here.

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