Andrada Mining acquisition elevates the miner to emerging mid-tier status. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksGlaxosmithkline Share News (GSK)

Share Price Information for Glaxosmithkline (GSK)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 1,529.50
Bid: 1,531.50
Ask: 1,532.00
Change: 3.50 (0.23%)
Spread: 0.50 (0.033%)
Open: 1,537.00
High: 1,541.50
Low: 1,523.00
Prev. Close: 1,526.00
GSK Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

UPDATE 3-U.S. citizen detained as China pharma probe spreads

Tue, 23rd Jul 2013 22:39

* U.S. citizen held amid widening China pharma probe

* Two more Chinese staff at AstraZeneca questioned

* 39 hospital staff to be punished for taking bribes-Xinhua

* Industry under scrutiny after bribery charges against GSK

* GSK reports second-quarter results at 1100 GMT

By Michael Martina

BEIJING, July 23 (Reuters) - A U.S. citizen has beendetained in China in connection with probes sparked by anunfolding corruption scandal in the drugs industry, as Chinawidens the range of international firms and staff under thespotlight.

Police have also questioned two more Chinese employees fromBritish drugmaker AstraZeneca in Shanghai, after a localsales representative was taken away for questioning earlier.

And China's Health Ministry said 39 hospital staff would bepunished for taking bribes from two drug companies. The firmsinvolved were not identified.

The unnamed American is the first U.S. citizen to bedetained in connection with the investigations, and the secondforeign national, after a British risk consultant linked withGlaxoSmithKline was held last week.

GSK, Britain's biggest drugmaker, has been accused by Chinaof funnelling up to 3 billion yuan ($489 million) to travelagencies to facilitate bribes to doctors and officials.

"We are aware that a U.S. citizen has been detained inShanghai. We are in contact with the individual and areproviding all appropriate consular assistance," U.S. embassyspokesman Nolan Barkhouse said on Tuesday, when asked about theinvolvement of U.S. citizens in the widening probe.

He declined to say which company the individual wasassociated with.

The latest moves by Chinese officials underline thecountry's tough stance on corruption and high prices in thepharmaceutical industry, as it unrolls wider healthcare accessand faces an estimated $1 trillion healthcare bill by 2020.

"Momentum is gathering and if you are a big internationalfirm, then you're a good example to be held up. This is awake-up call for the rest of the industry," said Jeremy Gordon,director of China Business Services, a risk management companyfocusing on China.

GSK Chief Executive Andrew Witty will detail what action thedrugmaker is taking in response to the bribery allegations whenhe presents quarterly results on Wednesday, sources familiarwith the matter have said. The results are due at 1100 GMT.

The company has called the bribery accusations "shameful"and on Monday said some of its Chinese executives appeared tohave broken the law.

AstraZeneca said the Shanghai Public Security Bureau hadasked on Tuesday to speak with two line managers linked to thesales representative questioned earlier.

"The Public Security Bureau is describing this as anindividual case. We have no reason to believe it is related toother investigations," the company said in a statement.

DOCTORS DISMISSED

Meanwhile, Chinese doctors and officials who are takingbribes are feeling the wrath of the authorities.

The official Xinhua news agency, citing a statement from theHealth Ministry on Tuesday, said 39 employees at a hospital insouthern Guangdong Province would be punished for taking illegalkickbacks, totalling 2.82 million yuan ($460,367), from twodrugmakers between January 2010 and December 2012.

"The vice chairman of the hospital's trade union and twopeople in charge of the two pharmaceutical companies involvedhave had their cases transferred to judicial organs, while ninedoctors who directly received kickbacks were dismissed,suspended or had their licences revoked," the report said.

Shanghai police detained British man Peter Humphrey earlierthis month. Humphrey runs an international business riskadvisory firm, ChinaWhys, that has worked with drug companies,including GSK, two people familiar with the situation said atthe weekend.

Chinese police have detained four Chinese executives fromGSK and the company's head of finance for China has also beenprevented from leaving China since the end of June.

Authorities have also visited the offices of Belgiandrugmaker UCB.

More News
27 Jun 2023 08:21

GSK granted US FDA fast track for gonorrhoea vaccine

(Alliance News) - GSK PLC on Tuesday reported that the US Food & Drug Administration has granted its gonorrhoea investigational vaccine a "fast track" designation.

Read more
27 Jun 2023 08:07

GSK gonorrhoea vaccine gets FDA fast track designation

(Sharecast News) - GSK said on Tuesday that its investigational vaccine for sexually transmitted infection gonorrhoea has been granted a fast track designation by the US Food and Drug Administration.

Read more
27 Jun 2023 07:56

LONDON BRIEFING: Stocks called up; record profit for Telecom Plus

(Alliance News) - Stock prices in London were set to open higher on Tuesday, following a positive session for equities in Hong Kong and Shanghai.

Read more
26 Jun 2023 08:38

TOP NEWS: GSK hails approvals for drug therapies in Japan and Europe

(Alliance News) - GSK PLC on Monday celebrated several regulatory approvals for new drug therapies, including treatments for shingles.

Read more
26 Jun 2023 07:56

LONDON BRIEFING: Stocks firm; Aston Martin signs Lucid, Mercedes deals

(Alliance News) - Stocks in London were set to start the new week marginally lower, with financial markets unfazed by a failed revolt by a mercenary army in Russia over the weekend.

Read more
26 Jun 2023 07:43

GSK gets an approval in Japan, a recommendation in Europe

(Sharecast News) - GSK announced two significant advancements on Monday, with the approval of an updated indication for Shingrix in Japan, as well as a positive opinion from the European Medicines Agency for daprodustat.

Read more
23 Jun 2023 20:24

GSK soothes investors by settling first Zantac cancer lawsuit due for US trial

GSK shares best performer on London's stock market

*

Read more
23 Jun 2023 17:25

DIRECTOR DEALINGS: GSK CFO buys shares worth GBP321,500

(Alliance News) - The following is a round-up of share dealings by London-listed company directors and managers announced on Friday and not separately reported by Alliance News:

Read more
23 Jun 2023 17:21

European shares post worst week in three months, Siemens Energy slumps

Siemens Energy weighs on German stocks

*

Read more
23 Jun 2023 17:17

London stocks log sharp weekly declines as rate hike pressures mount

UK shoppers boost spending again in May

*

Read more
23 Jun 2023 16:58

LONDON MARKET CLOSE: Stocks end in the red as recession fears mount

(Alliance News) - Stocks in London closed lower on Friday as weak economic data and the prospect of global interests staying higher for longer put investors in a firmly risk-off mood.

Read more
23 Jun 2023 12:41

The best-is-yet-to-come narrative fades

Euro zone business growth stalls in June -flash PMI

*

Read more
23 Jun 2023 12:09

LONDON MARKET MIDDAY: Housebuilders bear brunt of rate hike worries

(Alliance News) - Stock prices in London were lower heading into Friday afternoon, as a poor week for equities continued, with investors fretting over the prospect of central banks keeping interest rates higher for longer.

Read more
23 Jun 2023 10:20

‘Dictator? That’S Absurd’: a guide for investors navigating U.S.-China tensions

Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at .

‘DICTATOR? THAT’S ABSURD’: A GUIDE FOR INVESTORS NAVIGATING U.S.-CHINA TENSIONS (0915 GMT)

Read more
23 Jun 2023 09:40

PMIs in focus as healthcare staves off deeper losses

Welcome to the home for real-time coverage of markets brought to you by Reuters reporters. You can share your thoughts with us at .

PMIS IN FOCUS, HEALTHCARE STAVES OFF DEEPER LOSSES (0840 GMT)

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.