Bribery Scandal Slashes GlaxoSmithKline (GSK)'s Chinese Drug Sales
10/23/2013 7:39:13 AM
GlaxoSmithKline's drug sales in China slumped 61 percent in the third quarter, hit by a bribery scandal that has damaged its ability to market products in the country and pushed some sales into the hands of rivals. Chief Executive Andrew Witty said GSK's business in China had suffered most where other drug options were available - as is the case with its top-selling lung medicine Advair, for which AstraZeneca's Symbicort is an alternative treatment.
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