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Chinese Companies Gan & Lee Pharmaceuticals, Sino Biopharmaceuticals Ltd. (SBMFF) Get Caught Up in Corruption Allegations



9/12/2013 7:17:43 AM

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Chinese drug company, Sino Biopharmaceutical Ltd, has set up a team to investigate allegations broadcast on state television that its majority-owned subsidiary had paid for illegal overseas trips for doctors, it said on Thursday. Regional sales teams at Chia Tai Tianqing Pharmaceutical Group Co Ltd, 60 percent owned by Sino Biopharmaceutical, had paid for doctors to travel to Thailand and Taiwan, which could be considered illegal bribes, China Central Television (CCTV) reported late on Wednesday. Hong Kong-listed Sino Biopharmaceutical is the second Chinese firm to come under the spotlight this week, underlining that domestic companies are not immune to a recently launched drive against corruption in the sector.

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