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Health Care Law & Regulation

Glaxo CEO gets reduced bonus over China probe

UK drugmaker GlaxoSmithKline (GSK; GSK.NYSE, GSK.LON) CEO Andrew Witty was paid a reduced bonus for 2013 because of a Chinese anti-corruption probe focused on the UK drugmaker, Bloomberg reported, citing Glaxo’s annual report released on Thursday. Witty’s bonus of US$3.13 million was lower than the maximum US$3.66 million he might have received. China began investigating Glaxo in July over allegations that the London-based healthcare group had bribed hospitals, doctors and officials, a scandal that has tainted its corporate image and contributed to a plunge in revenue from the country.

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