Sapan Gai, CCO at Sovereign Metals, discusses their superior graphite test results. Watch the video 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
18 Dec 2023 07:55

LONDON BRIEFING: Games Workshop seals Amazon deal for Warhammer 40,000

(Alliance News) - Stocks in London were set to retreat slightly on Monday, in line with equity markets in Asia, at the start of the last week before the Christmas holidays.

Read more
18 Dec 2023 07:18

GSK sees success in Jemperli endometrial cancer trial

(Sharecast News) - GSK released positive headline results from the planned analysis of its trial of Jemperli in endometrial cancer on Monday.

Read more
17 Dec 2023 15:16

PRESS: GSK looks for deals in China as rebuilds relationship

(Alliance News) - The Financial Times on Sunday reported that GSK PLC is looking for some new deals in China.

Read more
15 Dec 2023 17:08

European shares end fifth week higher on rate-cut optimism

Barclays sees first ECB rate cut in April

*

Read more
15 Dec 2023 16:51

LONDON MARKET CLOSE: FTSE 100 underperforms as post-Fed rally cools

(Alliance News) - London's FTSE 100 ended lower on Friday, with profit-taking and some hawkish words from a US policymaker keeping equities in check at the end of a largely positive week for stocks.

Read more
15 Dec 2023 16:29

PRESS: GSK, Astra and AbbVie in US scrutiny over patents - Bloomberg

(Alliance News) - A US senator has accused AstraZeneca PLC, GSK PLC, AbbVie Inc and other drugmakers of "abusing" the patent system to send prices higher, Bloomberg reported on Thursday.

Read more
12 Dec 2023 10:08

AstraZeneca buys respiratory vaccine developer Icosavax in $1.1 bln deal

Dec 12 (Reuters) - AstraZeneca said on Tuesday it had agreed to buy respiratory syncytial virus (RSV) vaccine developer Icosavax in a deal valued at up to $1.1 billion.

Read more
12 Dec 2023 08:22

TOP NEWS: Japan accepts GSK's filing for respiratory disease vaccine

(Alliance News) - GSK PLC on Tuesday said Japan's Ministry of Health, Labour & Welfare has accepted its regulatory application for the extension of its respiratory syncytial virus vaccine, Arexvy, for adults aged 50-59.

Read more
12 Dec 2023 07:39

LONDON BRIEFING: UK unemployment unchanged at 4.2%; eyes on US CPI

(Alliance News) - Stocks in London are called to open higher, as investors digest the latest UK unemployment data, before turning their heads to US inflation.

Read more
12 Dec 2023 07:24

GSK seeks to extend RSV vaccine approval in Japan

(Sharecast News) - GSK announced on Tuesday that Japan's Ministry of Health, Labour and Welfare (MHLW) has accepted its regulatory application for the extension of the indication of its RSV vaccine to include adults aged 50- to 59 at an increased risk of contracting the disease.

Read more
11 Dec 2023 08:28

GSK drug gets EU marketing backing for form of endometrial cancer

(Alliance News) - GSK PLC on Monday said it won EU backing for its Jemperli drug in tandem with chemotherapy to treat a form of endometrial cancer.

Read more
11 Dec 2023 07:41

LONDON BRIEFING: GSK drug gets EU endorsement; Begbies backs outlook

(Alliance News) - London's FTSE 100 is called to open a touch lower on Monday, kicking off the week with some slight trepidation after Friday's hotter-than-expected US jobs report which offered the dollar some respite.

Read more
11 Dec 2023 07:23

GSK endometrial cancer treatment gets Europe authorisation

(Sharecast News) - GSK announced on Monday that the European Commission has granted marketing authorisation for 'Jemperli', or dostarlimab, in combination with chemotherapy for certain endometrial cancers.

Read more
7 Dec 2023 12:54

THG backer Kelso pushes for demerger to trim "inherent" valuation gap

(Alliance News) - THG PLC investor Kelso Group Holdings PLC on Thursday reiterated its call for a demerger, which the shareholder believes will help close the "disparity" between the e-commerce firm's share price and its true value.

Read more
5 Dec 2023 10:02

LONDON BROKER RATINGS: Goldman lifts Landsec and British Land

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

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.