Subscribe free to our newsletters via your
. Space Industry and Business News .




INTERN DAILY
Glaxo says China drugs sales slump on bribery probe
by Staff Writers
London (AFP) Oct 23, 2013


British drugmaker GlaxoSmithKline revealed on Wednesday that pharmaceuticals and vaccines sales in China tumbled 61 percent in the third quarter, as it was rocked by a state bribery probe.

Worldwide sales however held steady at 6.51 billion pounds ($10.57 billion, 7.64 billion euros) in the third quarter or three months to September, compared with the same part of last year, GSK added in a results statement.

Profit after tax dropped 12 percent to 969 million pounds in the reporting period.

GSK chief executive Andrew Witty said the group had experienced "a significant sales decline in China, where operations have been disrupted by the ongoing investigation into our business".

The company has previously warned that its financial performance in China would take a hit from Beijing's probe into bribery allegedly carried out by senior staff.

In afternoon deals on Wednesday, the group's share price slid two percent to 1,568.85 pence on London's FTSE 100 index of top companies, which was 0.47 percent lower at 6,663.98 points.

GSK admitted in July that senior employees at its China unit appeared to have breached local law -- after Chinese authorities alleged that employees had bribed government officials, pharmaceutical industry groups, hospitals and doctors to promote sales.

"We continue to co-operate with the authorities and we remain fully committed to supplying our products to patients in the country," added Witty in the earnings release.

"At this stage, it is still too early for us to quantify the longer-term impact of the investigation on our performance in China."

.


Related Links
Hospital and Medical News at InternDaily.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle








INTERN DAILY
'Electronic blood' powers experimental computer mimicking human brain
Zurich, Switzerland (UPI) Oct 18, 2013
IBM researchers in Switzerland have unveiled a prototype of a new brain-inspired computer powered by what they're calling "electronic blood." The scientists at IBM's Zurich research center say they are learning from nature, building computers fueled and cooled by a liquid, like the human brain, which boasts phenomenal computing power while consuming only tiny amounts of energy. ... read more


INTERN DAILY
NSF Awards $12 Million to SDSC to Deploy "Comet" Supercomputer

Rice scientists create a super antioxidant

Cracked metal, heal thyself

'Walking droplets'

INTERN DAILY
Lockheed Martin To Continue In Theater Support for Real-Time Surveillance

Lockheed Martin to Deliver Communications and Transmission Services to US Army

Raytheon demonstrates new protected tactical waveform on a small, lightweight, low-cost modem

Northrop Grumman Delivers First Tactical IBCS Components

INTERN DAILY
Takeoff of Proton LV with US satellite may be put off until Oct 25

Technical glitch will delay launch of European space mission

Astrium awarded three new contracts by ESA for Ariane 6 and Ariane 5 ME launchers

Sounding Rocket Calibrates NASA's SDO Instrument

INTERN DAILY
Software Uses Cyborg Swarm To Map Unknown Environs

DLR, Thales Alenia Space and SES Develop Innovative Space-Based Air Traffic Control Monitoring System

Boeing, China Southern and China Aviation Authorities Establish Precision Navigation Procedures

Plan maps development of China's sat-nav industry

INTERN DAILY
Boeing boosts 2013 forecast as Q3 profit soars

Two feared dead as fighter jet crashes in Switzerland

Wrangling flow to quiet cars and aircraft

EU revives airline carbon tax proposal

INTERN DAILY
Researchers Advance Scheme to Design Seamless Integrated Circuits Etched on Graphene

Size matters in the giant magnetoresistance effect in semiconductors

CU, MIT breakthrough in photonics could allow for faster and faster electronics

Researchers demonstrate 'accelerator on a chip'

INTERN DAILY
Satellites proposed as way to bring early detection of wildfires

CASIS Issues Request for Proposals: Remote Sensing From the ISS

Nation puts geospatial data system on the map

Indra Leads The European G-Sextant Earth Observation Project

INTERN DAILY
Dangerous pollution levels blight Chinese city

Russian court brands Baikal protection group 'foreign agent'

Outdoor air pollution a leading cause of cancer

'Toxic bomb' ticks on Maldives rubbish island




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement