Lilly investigating allegations of $4.9M in Chinese bribes

Eli Lilly ($LLY), the most recent company targeted with bribery accusations in China, is looking into the matter itself. The company says it is "deeply concerned" by allegations that ran Thursday in a private Chinese newspaper, noting that it did some internal investigating last year searching for "any evidence of kickbacks," as quoted by The Wall Street Journal. The newspaper's report cites a former sales manager as a source, and the allegations implicate Lilly for more than $4.9 million in bribes to doctors in the country. Story (sub. req.) | More