Antitrust Issues
China fines Glaxo $492 million in bribery case
China fines Glaxo $492 million in bribery case

China on Friday leveled a nearly half-billion-dollar fine against British drug maker GlaxoSmithKline after an investigation concluded that the company bribed physicians and hospitals to use its products. The company's ex-country manager was given a suspended three-year prison sentence and will be deported. The $492-million fine represents the biggest penalty ever for any business entity — domestic or foreign — in China. Though the case centered on bribery allegations and price inflation, it also encompassed more tawdry elements, including a tussle over a sex tape and illegal use of private investigators. The heavy penalty against GSK comes amid a raft of government...