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GSK due to report Q2 earnings

(CNTV)

11:22, July 25, 2013

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British drugmaker GSK says Wednesday its factories in China are running as usual after the bribery scandal broke, according to Chinese website Netease.com.

The company is also scheduled to hold a press conference by phone at 7:15 Beijing time tonight to release second quarter earnings. Investors will be keen to hear how GSK plans to prevent such events from reoccurring.

Meanwhile China’s investigations into alleged illegal practices in the pharmaceutical industry continue. Two more Chinese employees from British drugmaker AstraZeneca are being questioned by police, after a local sales representative was taken away for questioning earlier.

A U.S. citizen has also been detained in China in connection with the investigations. The probe may lead to more affordable medicines in the future, as bribery and corruption in China’s pharmaceutical industry may be causing artificially high drug prices.

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