Glaxo (GSK) Appoints New China GM as Bribery Investigation Unfurls
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Price: $40.86 -0.92%
Overall Analyst Rating:
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Dividend Yield: 4.8%
Revenue Growth %: +28.8%
Overall Analyst Rating:
NEUTRAL (
Up)Dividend Yield: 4.8%
Revenue Growth %: +28.8%
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GlaxoSmithKline (NYSE: GSK) is ticking higher Thursday afternoon following reports that its looking to right a few wrongs in China, starting with a new executive in the region.
The WSJ said that co-head of Glaxo's European unit, Herve Gisserot, will replace Mark Reilly as general manager in China.
Glaxo's move comes as China has recently brought about accusations of bribery by the Sharma giant. China thinks Glaxo targeted doctors, government officials, and hospitals will incentives for more drug sales.
Last week, Glaxo affirmed that it believed some of its senior management in China broke the law and would take steps to cooperate with any investigations.
Shares of Glaxo are up 0.4 percent.
The WSJ said that co-head of Glaxo's European unit, Herve Gisserot, will replace Mark Reilly as general manager in China.
Glaxo's move comes as China has recently brought about accusations of bribery by the Sharma giant. China thinks Glaxo targeted doctors, government officials, and hospitals will incentives for more drug sales.
Last week, Glaxo affirmed that it believed some of its senior management in China broke the law and would take steps to cooperate with any investigations.
Shares of Glaxo are up 0.4 percent.
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