LONDON (Alliance News) - British pharmaceuticals giant GlaxoSmithKline PLC Wednesday said it was taking allegations raised by Chinese authorities very seriously and continuing to co-operate with investigations, after the Chinese authorities accused a British Glaxo executive of ordering staff to bribe hospital officials to use its products.
In a statement, Glaxo said it was deeply concerned about the allegations that had been made. It said the Ministry of Public Security in China had updated the company on its investigation and had now passed the case to the Changsha People?s Procurator in Hunan Province, which was now reviewing the case.
?We will continue to fully co-operate with the authorities in this matter," Glaxo said. ?We want to reach a resolution that will enable the company to continue to make an important contribution to the health and welfare of China and its citizens.?
The BBC reported Wednesday that Mark Reilly, Glaxo's former head of China operations, was accused of ordering staff to bribe hospital officials to use its products, a move that helped generate billions of yuan in "illegal revenue", according to Chinese police.
Reilly and two other colleagues were also suspected of bribing government officials in Beijing and Shanghai, the BBC reported Chinese police as saying.
GlaxoSmithKline shares were down 1.5% at 1,613 pence Wednesday morning, one of the biggest declines on the FTSE 100.
By Steve McGrath; stevemcgrath@alliancenews.com; @SteveMcGrath1
Copyright 2014 Alliance News Limited. All Rights Reserved.
Glaxosmithkline (GSK)