German drugmaker Bayer (BAYN.ETR) said it is under investigation by the Chinese government as part of a deeper dig into a kickback scandal, The Wall Street Journal reported. A representative of China’s State Administration for Industry and Commerce visited a Bayer office in China at the end of last month, investigating a potential case of […]
Category: Health Care
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China steps up pressure on GSK
UK drug giant GlaxoSmithKline (GSK.NYSE, GSK.LON) came under fire again as its allegedly detained employees told Chinese state-owned media that company executives created a culture to encourage corrupt practices, The Wall Street Journal reported. China’s national broadcaster on Tuesday aired reports featuring what it said were detained employees saying that managers pressured sales representatives to get […]
China is launching a new three-month investigation into the country’s scandal-plagued pharmaceutical and medical services sector, Reuters reported, citing the official Xinhua news agency. The investigation by the State Administration for Industry and Commerce (SAIC), which is responsible for market supervision, is targeting bribery, fraud and other anti-competitive practices. The National Development and Reform Commission is currently […]
China is investigating French drugmaker Sanofi SA (SNY.NYSE, SAN.EPA) as part of a deeper dig into a pharmaceutical bribery scandal, Reuters reported, citing the official Xinhua News Agency. Authorities are probing if the company has paid bribes of about US$277,600 (RMB1.7 million) to Chinese doctors to boost product sales. Last week an anonymous whistleblower told the semi-independent […]
China Market Roundup: August 2