China says GSK executives confess to bribery
China's Ministry of Public Security said in a statement on Thursday that senior GlaxoSmithKline plc (LSE:GSK; NYSE:GSK) executives in China confessed to bribery and tax crimes. The ministry said it arrested several GSK executives after finding evidence they had bribed government officials, foundations, hospitals and doctors. According to the statement, arrested GSK employees have confessed to charges but the case is still under investigation.
GSK noted the statement includes the first specifics it has received on the government investigation with which the pharma has been cooperating; GSK has previously said the "precise nature" of the investigation was not clear. The pharma added that it has found no evidence of bribery or corruption in its China business. ...