28/05/2014

GSK To Be Investigated By SFO Over Bribery

British drugs giant GlaxoSmithKline (GSK) has confirmed that a formal criminal investigation has been launched by Britain's Serious Fraud Office (SFO) over alleged bribery in its business practices.

The investigation with the world's sixth largest pharmaceutical company was launched after Chinese authorities claimed GSK staff had bribed government and health officials in the country.

Following the announcement, shares in the firm went down more than 1.5%.

A company spokesperson said: "GSK is committed to operating its business to the highest ethical standards and will continue to co-operate fully with the SFO".

(CVS/CD)

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