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GSK case a "warning" to behave for MNCs in China: Xinhua

Source: Reuters - Fri, 16 May 2014 03:36 GMT
Author: Reuters
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SHANGHAI, May 16 (Reuters) - Corruption charges against British drugmaker GlaxoSmithKline Plc in China are a "warning" to other foreign firms operating in the country that unethical behaviour will be punished, according to a commentary from the official Xinhua news agency on Friday.

Chinese police charged on Wednesday the British former China head of GSK and other colleagues with corruption, after a probe found the firm made billions of yuan from bribing doctors and hospitals.

"The case is a warning to other multinationals in China that ethics matter ... GSK's practices eroded its corporate integrity and could cause irreparable damage to the company in China and elsewhere," the Xinhua commentary said.

Xinhua is China's official news agency and its commentaries are often seen as reflective of the government's thinking. (Reporting by Adam Jourdan; Editing by Kazunori Takada)

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