U.K. prime minister stands up for GSK in China

U.K. Prime Minister David Cameron thinks GlaxoSmithKline ($GSK) is a "very decent and strong British business" and has been talking it up with Chinese officials during his trade visit there. According to Bloomberg, the PM doesn't see anything wrong with standing up for a British business, even one that has been accused by officials in China of using bribery to get ahead. Cameron has not commented on the investigation per se but said, "Britain has a record of properly standing up for British businesses and British individuals, raising individual cases in the right way and about having a proper dialog with the Chinese authorities about the issues." GSK CEO Andrew Witty is on the same trip, along with 100 other business execs, but he had chosen not to comment on the criminal probe. It's Witty's first visit to China since authorities there alleged in July that the company funneled about $490 million in bribes through travel agencies to Chinese doctors and officials to meet aggressive sales-growth targets. Story | More

 

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