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GlaxoSmithKline (GSK) Dodged Millions In China Drug Tax Scam


5/20/2014 7:17:19 AM

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A Chinese state-run newspaper has accused British drugmaker GlaxoSmithKline Plc of evading at least 100 million yuan ($16.04 million) in taxes, adding to pressure on the firm which is already struggling with graft charges against executives. Chinese police on Wednesday said they had charged the former boss of GSK's China business and other colleagues, in the biggest corruption scandal to hit a foreign company there since four Rio Tinto executives were jailed in 2009. Although the corruption charges target executives rather than the company itself, the mounting allegations made by Chinese media suggest the drugmaker is far from safe.

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