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SEX, DRUGS and BRIBERY: GlaxoSmithKline accused of using cash and sex to generate $1.5bn in Chinese sales

 
Canuck_Hillbilly
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07/16/2013 10:37 AM
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SEX, DRUGS and BRIBERY: GlaxoSmithKline accused of using cash and sex to generate $1.5bn in Chinese sales
Drug manufacturer GlaxoSmithKline (GSK) faces allegations of funneling $489 million (3 billion yuan) through travel agencies to pay kickbacks to doctors, hospitals, and government officials to prescribe GSK drugs to patients.

Sales in China, the world’s hottest pharmaceutical market, increased by 20 percent in 2012 to $1.5 billion, a miracle growth story now under police investigation. Though one of the hottest markets, it is also one of the most competitive, which investigators see as a motive for the bribes dating back to 2007.

Chinese newspapers reported GSK had a network of travel agencies working for them which acted as middlemen to carry out the bribery.

"Each doctor had a credit card from the company. The kickbacks were transferred to the cards the day after the drugs were prescribed," one newspaper reported.

Laundering money through over 700 third parties enabled employees to overstep the company’s gift giving limit of $50 per recipient, Xinhua reported. Scores of doctors, hospitals, lawyers, and government officials were showered with perks which included travel, cash bribes, and even sexual favors, the Public Security Ministry said.


Full story here...

[link to rt.com]

Last Edited by Canuck_Hillbilly on 07/16/2013 10:44 AM
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delftdaddy

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07/16/2013 10:49 AM
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Re: SEX, DRUGS and BRIBERY: GlaxoSmithKline accused of using cash and sex to generate $1.5bn in Chinese sales
Burn them.
delftdaddy
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07/16/2013 10:51 AM
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Re: SEX, DRUGS and BRIBERY: GlaxoSmithKline accused of using cash and sex to generate $1.5bn in Chinese sales
People ask the question... what's a RocknRolla? And I tell 'em - it's not about drums, drugs, and hospital drips, oh no. There's more there than that, my friend. We all like a bit of the good life - some the money, some the drugs, others the sex game, the glamour, or the fame. But a RocknRolla, oh, he's different. Why? Because a real RocknRolla wants it all!.
Anonymous Coward
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07/16/2013 10:53 AM
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Re: SEX, DRUGS and BRIBERY: GlaxoSmithKline accused of using cash and sex to generate $1.5bn in Chinese sales
That is how it works in Asia. No bribe, no deal PERIOD
Anonymous Coward
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07/17/2013 12:53 PM
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Re: SEX, DRUGS and BRIBERY: GlaxoSmithKline accused of using cash and sex to generate $1.5bn in Chinese sales
That is how it works in Asia. No bribe, no deal PERIOD
 Quoting: Anonymous Coward 43511085


That may be true for Asia ~ I don't know. It is NOT limited to Asia though & I am VERY glad that GlaxoSmithKline is getting busted!!

Big pharma companies have gotten away with b.s. for far too long! Now we just need to see this spread to the states. Sometime back they made it illegal here for the pharmaceutical reps to take the docs to dinners, games & shows ~ however, you just knew they were finding some other way to get those perks across to the docs.

Doctors prescribe pills ~ often harmful pills ~ based on which pharma rep gets them the sweetest deals.

All we really need here is for POLITICIANS to be required to disclose their kickbacks/campaign funds from Big Pharma companies too!





GLP