Subscribe free to our newsletters via your
. Nuclear Energy 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
Scientists Identify Key Genes for Increasing Oil Content in Plant Leaves

Ethanol Safety Seminar Planned in Tacoma

US Biodiesel Production Surpasses Set Target for Second Straight Year

AREVA awarded a contract for the construction of a biomass power plant in the Philippines

INTERN DAILY
New NRDC Crowdfunding Campaign to Connect Schools to Solar Power

ecoSolargy's End-To-End HDPV Solution Reduces PV System Costs

Santerno Introduces New PV Power Plant Controller that Provides Single Point of Control

Solar Grid Storage and AllCell Partner to Help Ensure Grid Stability

INTERN DAILY
Spain launches first offshore wind turbine

Key German lawmaker: End renewable energy subsidies by 2020

Installation of the first AREVA turbines at Trianel Windpark Borkum and Global Tech 1

Trump's suit to halt wind farm project to be heard in November

INTERN DAILY
Russia switches Greenpeace piracy charge to 'hooliganism'

US power plant pollution declines 10 percent from 2010

Firms eye power generation in post-Fukushima Japan

South Korean president calls for global energy cooperation

INTERN DAILY
UMD Researchers Address Economic Dangers of 'Peak Oil'

Uniformity: the secret of better fusion ignition

China media hail Russia ties after $85 bn oil deal

China heads to South America in global energy 'scramble'

INTERN DAILY
Count of discovered exoplanets passes the 1,000 mark

Iowa research team see misaligned planets in distant system

Astronomer see misaligned planets in distant system

Water discovered in remnants of extrasolar rocky world orbiting white dwarf

INTERN DAILY
India close to signing with Kangnam for minesweepers

Guyana accuses Venezuela navy after ship detained

Japan votes for Mr and Ms in sailor popularity poll

Australia commissions MU90 torpedo after delays

INTERN DAILY
India sets November 5 for Mars mission launch

MAVEN Launch Preps on Schedule

Phobos-Grunt-2: Russia to probe Martian moon by 2022

Russian scientists set sights on space




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