LONDON (Alliance News) - A US anti-bribery probe into GlaxoSmithKline PLC looked into the company's Chinese consumer healthcare business in 2012, potentially suggesting its compliance problems in the country could be wider than previously revealed, Reuters reported Tuesday.
Reuters said it had seen three 'preservation notices' which show that Glaxo was conducting a focused investigation into specific people and suppliers in China at least as far back as 2012.
The documents are not evidence of wrongdoing by Glaxo or its partners, but do show that the investigation touched on a part of the Chinese business that has not previously been identified as a focus. The investigation is unconnected to the Chinese criminal investigation into corruption in its pharmaceuticals division, the report said.
Reuters quoted a GlaxoSmithKline spokesman saying that "the preservation notices issued in 2012 relate to allegations around adherence to procurement policies within our Chinese consumer healthcare business."
"We investigated using resources inside and outside the company and did not find evidence of unethical conduct, but did identify some non-compliance with our procurement procedures and remedial action was taken as a result," the spokesman said.
A spokesperson for Glaxo was not immediately available for comment.
http://uk.reuters.com/article/2014/09/09/uk-gsk-china-corruption-idUKKBN0H407S20140909
Shares in Glaxo were trading up 0.1% at 1,433.95 pence Tuesday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
Copyright 2014 Alliance News Limited. All Rights Reserved.
Glaxosmithkline (GSK)