An executive from British pharmaceutical giant GlaxoSmithKline has been barred from leaving China, the Telegraph reports.
Chinese authorities have recently launched an investigation against GSK, alleging that the company paid three billion yuan in bribes to doctors, hospitals and others to help boost sales of their products.
However, the company said that their finance director had not been detained or questioned in relation to the ongoing investigation. Though informal questioning may have taken place, according to SCMP.
GSK’s vice president of operations in China, Liang Hong appeared on Chinese TV on Monday to confess his role in the scheme.
“Having spent time reflecting over the past couple of days, I think the money we spent to run our business was too much,” Liang said.
“All of these costs [of our bribery] were included in the price of the drugs. The money we spent running the business accounted for about 20pc to 30pc of the drug price”.
GSK is not the only company that is being targeted. Four multinational drug companies are facing probes, Wendy Wysong, head of anti-corruption practice in Asia-Pacific at law firm Clifford Chance told Bloomberg.
However, none of the other companies have been named by Chinese authorities as yet.
Meanwhile, Chinese netizens are asking, what about the officials who have received the bribes?
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