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Emerging markets head apologises for bribery scandal


13:00, July 24, 2013

British drugmaker GlaxoSmithKline said Monday some of its executives in China appear to have broken the law, and promised to change its business model to lower drug prices in China.

GSK’s head of emerging markets, Abbas Hussain, was sent to China last week to lead GSK’s response to the crisis. He met with the Ministry of Public Security and apologized for the scandal. Hussain said GSK has zero tolerance for employees who break the law. GSK was accused by Chinese police last week of bribing officials and doctors to boost sales and raise drug prices. The executives involved are alleged to have funnelled around half a billion US dollars to travel agencies.

GSK CEO Andrew Witty may detail what action the drugmaker is taking on the bribery case when he presents quarterly results on Wednesday.

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