jueves, 18 de julio de 2013

GLAXO y...el sexo.


GlaxoSmithKline Plc (GSK)’s sales in China jumped 20 percent to about 1 billion pounds ($1.5 billion) last year, almost quadruple the pace of growth across its emerging markets. Police say bribes and sexual favors spurred the gain. The drugmaker now faces allegations of economic crimes involving 3 billion yuan ($489 million) of spurious travel and meeting expenses, and trade in sexual favors, the Public Security Ministry said yesterday. The allegations are “shameful” and would be a breach of the company’s systems and values, Glaxo said in a statement. 

 Bribes paid to hospitals, doctors and health officials to solicit sales helped boost Glaxo’s revenue, according to the ministry, which controls China’s police. If found guilty, Glaxo could be ordered to pay a penalty equating to only a fraction of its sales in China, the world’s fastest-growing major pharmaceutical market, said Fabian Wenner, a health-care analyst for KeplerCapital Markets in Zurich. 

While being involved in criminal offenses and associated with illegal actions is clearly damaging for GSK’s reputation, I doubt that this will be of material impact for the company,” Wenner said in an interview yesterday. 

 Kepler Capital Markets estimates Glaxo may have to pay $5 million to $10 million to settle the matter, based on fines paid in China for similar violations, “implying close to no impact for the shares,” he said. “I haven’t spoken to any investor who is concerned about this yet.” 

 Glaxo fell 0.3 percent to close at 1,744.50 pence in London trading yesterday. The stock has risen 31 percent this year, compared with a 17 percent gain in the Bloomberg EuropePharmaceutical Index. (Más)

Y Pfizer...
y Lilly...

Eli Lilly & Co. (LLY) in December agreed to pay $29.4 million to settle U.S. Securities and Exchange Commission allegations that employees gave cash and gifts to officials in China, Brazil, Russia and Poland to win millions of dollars in business. Pfizer Inc. (PFE), the world’s biggest drugmaker, agreed last August to pay $60.2 million to settle foreign bribery cases it disclosed to U.S. authorities involving alleged payments paid by employees and agents of subsidiaries, including in China. 

Ver:
Police Say Sexual Favors Spur $1.5 Billion Glaxo China Sales

GSK response to China investigation
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