Roundtable Discussion; The Future of Mineral Sands. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

China halts travel agency's business over GSK case - report

Thu, 18th Jul 2013 13:11

BEIJING, July 18 (Reuters) - Authorities in Shanghai havesuspended the business of a travel agency in connection withallegations of bribery against British drugmaker GlaxoSmithKline, the official Xinhua news agency said on Thursday.

Chinese police have started investigating suspected involvement by the Shanghai Linjiang International Travel Agencyin illegal activities such as falsifying bills, it said withoutelaborating.

The travel agency has been ordered to suspend its businessand carry out an internal overhaul, it said.

Reuters was not immediately able to reach the travel agencyfor comment.

Chinese police on Monday accused GSK of bribing officialsand doctors to boost sales and raise the price of its medicinesin China. They said GSK transferred up to 3 billion yuan ($489million) to 700 travel agencies and consultancies over six yearsto facilitate the bribes.

Britain's biggest drugmaker has said it was deeply concernedby the developments, which it called "shameful".

Police have detained four senior Chinese executives fromGSK, including vice president and operations manager Liang Hong,who told state television this week he had funnelled moneythrough travel agencies by arranging conferences, some of whichwere never held. That money was then used to pay bribes.

Related Shares

More News
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...

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:

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....

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% *

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...

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.