The country is in the midst of a full-blown corruption investigation aimed largely at Big Pharma, and now it has picked another target: Swiss drugmaker Roche.
GlaxoSmithKline has been a partner of the GAVI Alliance for years, offering some of its vaccines at low cost to help support immunization efforts for children in emerging countries. But now, it's going one step further with a 5-year price freeze on three of its vaccines for countries that graduate from GAVI funding.
GlaxoSmithKline has missed out on a big new market for its blood cancer drug Arzerra. Approved to treat chronic lymphocytic leukemia, Arzerra (ofatumumab) failed to pass the test in a B-cell lymphoma trial. And now, Glaxo officials say they're giving up on the indication.
Pharma industry probes are far from over, China-based professionals say. And with the country trying desperately to drive down healthcare costs for its population of close to 1.4 billion, Big Pharma had best be careful. Local officials are making it clear that Big Brother is watching.
More accusations against GlaxoSmithKline are flying in China, but this time they're not about bribery. They're about taxes. A government-run legal newspaper alleges that the British drug giant evaded millions in taxes, compounding the company's growing problems in the country.
"Ethics matter" in China--and it's time for multinationals to take note, according to the country's official news agency. With a reputation-tarnishing scandal, dented China sales and a former top exec facing up to a lifetime in prison, GlaxoSmithKline's tale should serve as a prime example of what can happen if they don't.
Metabolon has made a busy start to 2014, with media reports of a planned IPO following news of its partnership with J. Craig Venter's Human Longevity. Now, GlaxoSmithKline has signed up to use Metabolon's bioinformatics and visualization tools as part of a deal to source metabolomic profiling services.
The GlaxoSmithKline executive charged with masterminding a Chinese bribery network didn't think he'd face those official accusations, Reuters reports. And no wonder: They're the most serious allegations ever leveled against a foreigner for corporate corruption in the country.
China is coming down hard on GlaxoSmithKline's local operation. After a months-long bribery probe, Chinese police have slapped Glaxo's former country chief--Mark Reilly, a Brit--and two other top Chinese executives with several counts of bribery.
China is coming down hard on GlaxoSmithKline's local operation. After a months-long bribery probe, Chinese police have charged Glaxo's former country chief and two other top execs with several counts of bribery. All could face life in prison.