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UK Fraud Office Investigating GlaxoSmithKline (GSK)


5/28/2014 7:05:00 AM

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Britain's fraud office has launched a formal criminal investigation into GlaxoSmithKline , posing a new challenge to the drugmaker, which already faces claims of bribery in China and four other countries. The Serious Fraud Office (SFO) said late on Tuesday that its director had "opened a criminal investigation into the commercial practices of GlaxoSmithKline and its subsidiaries", confirming an earlier brief statement from the company. Shares in the company - Britain's biggest drugmaker and the sixth-largest pharmaceuticals group in the world by sales - fell 1.5 percent in early Wednesday trading on the news.

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