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Baxter International, Inc. (BAX) Found Expense Violations in China


8/2/2013 8:18:26 AM

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Baxter International Inc. investigated a joint venture in China and discovered expense violations there last year, according to the drug and medical-device maker, which hadn't previously disclosed the moves. Baxter said it conducted the investigation and "took actions in a prompt and responsible manner" after employees of the venture, Guangzhou Baxter Qiaoguang Healthcare Co., reported problems internally in July 2012. Baxter made the disclosure Thursday after being contacted by The Wall Street Journal with an anonymous tipster's allegations that the venture's employees fabricated conferences as part of a bribery scheme.

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