REMINDER: Our user survey closes on Friday, please submit your responses here

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksGlaxosmithkline Share News (GSK)

Share Price Information for Glaxosmithkline (GSK)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 1,773.50
Bid: 1,772.00
Ask: 1,772.50
Change: 12.50 (0.71%)
Spread: 0.50 (0.028%)
Open: 1,770.00
High: 1,776.00
Low: 1,766.00
Prev. Close: 1,761.00
GSK Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

UPDATE 2-China state media says 18 more detained in GSK probe

Sat, 27th Jul 2013 11:18

BEIJING, July 27 (Reuters) - At least 18 more people havebeen detained in China in connection with a corruption scandalinvolving British drugmaker GlaxoSmithKline, state mediareported, giving more details on an investigation that hasrocked the company.

China's state radio reported late on Friday on its websitethat police in the central city of Zhengzhou had "recently held,in accordance with the law, 18 GlaxoSmithKline (China) employeesand some medical personnel".

It provided no details of the detentions nor say exactlywhen they happened.

The Zhengzhou police news department, reached by telephone,said they were "unaware of the situation" and declined tocomment further.

A GSK spokesman in London declined to comment on the report.

China's Ministry of Public Security said late on FridayGSK's former general manager for the country, Mark Reilly,currently in Britain, would return to China to cooperate in theinvestigation.

"The Ministry of Public Security welcomes GSK's position,and will provide necessary help to the work of the company'saudit team, and hopes that GSK China's operations and productionwill return to normal as soon as possible," it said.

Chinese police had earlier announced the detention of fourChinese GSK executives in connection with allegations that thedrugmaker funnelled up to 3 billion yuan ($489 million) totravel agencies to facilitate bribes to doctors and officials.

GSK has admitted that some Chinese executives appeared tohave broken the law but Chief Executive Andrew Witty said onWednesday that head office had no knowledge of the allegedwrongdoing.

The official Xinhua news agency said that certain GSKemployees were "suspected of offering bribes to doctors, askingthem to prescribe more drugs in order to grow sales volume, andin the meantime pushing up drug prices".

"PUSHING DOCTORS"

Xinhua cited an interview with a man surnamed Li, who itsaid was a regional sales manager for GSK responsible forselling respiratory drugs to more than 10 hospitals inZhengzhou, who gave details of how the corruption worked.

"They invited doctors to join high-end academic conferencesto help the practitioners increase influence in their fields.They also established good personal relations with doctors bycatering to their pleasures or offering them money, in order tomake them prescribe more drugs," Xinhua said.

"A 35-year-old female medical representative surnamed Wang,working under Li, said she entered doctors' offices to act astheir assistant, and meet their needs as much as possible, eventheir sexual desires," the news agency added.

"Wang said GSK China's executives already knew this, andsome executives gave clear directives to the sales department tooffer bribes to doctors with money or opportunities to attendacademic conferences."

However, many doctors got money even when the lectures didnot actually exist, Xinhua said.

"Wang just forged lecture materials in order to obtainreimbursements from the company," it added.

"According to Li and Wang, the company set the target ofraising drug sales by 30 percent annually in the last two years,and the target can only be achieved by pushing doctors toprescribe more if there are no increases in the number ofpatients," Xinhua reported.

GSK this week appointed one of its top European executivesas the new head of operations in China.

More News
8 May 2024 09:39

LONDON BROKER RATINGS: UBS raises Centrica to 'buy' from 'neutral

(Alliance News) - The following London-listed shares received analyst recommendations Wednesday morning and Tuesday:

Read more
7 May 2024 09:51

LONDON BROKER RATINGS: AstraZeneca target raised; Antofagasta lowered

(Alliance News) - The following London-listed shares received analyst recommendations Tuesday morning and Friday:

Read more
2 May 2024 19:57

GSK knew about Zantac cancer risk, attorneys tell jury in first trial

May 2 (Reuters) - U.S. attorneys for a woman who claims her colon cancer was caused by the now discontinued heartburn drug Zantac on Thursday told a jury in Chicago that pharmaceutical companies GSK and Boehringer Ingelheim knew the product could cause cancer if it was not handled properly but failed to warn the public.

Read more
2 May 2024 09:48

LONDON BROKER RATINGS: Deutsche Bank likes TP ICAP but says sell CMC

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning and Wednesday:

Read more
1 May 2024 19:39

Bird flu testing shows more dairy products are safe, US FDA says

CHICAGO, May 1 (Reuters) - Preliminary results of tests on additional dairy products show that pasteurization inactivates the bird flu virus, the U.S. Food and Drug Administration said on Wednesday.

Read more
1 May 2024 17:31

UK's FTSE 100 slips ahead of Fed outcome, energy stocks weigh

FTSE 100 down 0.3%, FTSE 250 off 0.2%

*

Read more
1 May 2024 16:56

LONDON MARKET CLOSE: FTSE 100 down ahead of US interest rate decision

(Alliance News) - Stock prices in London closed mostly in the red on Wednesday, as investors eye the latest interest rate decision from the US Federal Reserve this evening.

Read more
1 May 2024 16:42

London close: Stocks fall ahead of US Fed decision

(Sharecast News) - London markets closed lower on Wednesday, as investors digested the latest UK manufacturing data and anticipated an impending policy announcement from the US Federal Reserve.

Read more
1 May 2024 11:55

LONDON MARKET MIDDAY: FTSE 100 treads water as Fed takes centre-stage

(Alliance News) - London's FTSE 100 traded off session highs heading into Wednesday afternoon, as some pre-Federal Reserve decision nerves kicked in.

Read more
1 May 2024 10:54

GSK raises profit outlook on strong vaccine, HIV drug sales

FY profit forecast raised to 8-10%

*

Read more
1 May 2024 08:57

LONDON MARKET OPEN: FTSE 100 shakes off New York slump before Fed

(Alliance News) - Stock prices in London opened mixed on Wednesday, with the FTSE 100 brushing off some pre-Federal Reserve decision trepidation to record an early rise, while the dollar climbed on the expectation that Jerome Powell will sound hawkish in his press conference later.

Read more
1 May 2024 08:50

TOP NEWS: GSK expects momentum to continue after strong first quarter

(Alliance News) - GSK PLC on Wednesday raised its annual earnings forecast, and said it expects sales growth at the top-end of guidance, after a "strong" start to the year.

Read more
1 May 2024 07:46

LONDON BRIEFING: GSK ups outlook; Next first-quarter beats forecast

(Alliance News) - Equities in London are called to open flat on Wednesday, ahead of the latest Federal Reserve interest rate decision, while a host of financial markets in mainland Europe and beyond are closed for public holidays.

Read more
1 May 2024 07:36

GSK lifts annual guidance on strong virus treatment sales

(Sharecast News) - UK pharmaceutical giant GSK lifted annual profits guidance on Wednesday, as it pinned its hopes on demand for its respiratory virus and shingles treatments.

Read more
30 Apr 2024 23:46

First trial over Zantac cancer claims set to begin in Chicago

April 30 (Reuters) - The first trial over claims that blockbuster heartburn drug Zantac, once sold by GSK and other companies, causes cancer is set to begin this week in Chicago.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.