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China fines drugmaker GlaxoSmithKline $492 million in bribery case
China fines drugmaker GlaxoSmithKline $492 million in bribery case

China on Friday leveled a half-billion-dollar fine against British drugmaker GlaxoSmithKline after an investigation concluded that the company bribed physicians and hospitals to use its products. One company executive 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 Glaxo comes amid a raft of government investigations into the business...

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