Free Newsletters - Space - Defense - Environment - Energy
..
. Medical and Hospital News .




INTERN DAILY
Glaxo says China drugs sales slump on bribery probe
by Staff Writers
London (AFP) Oct 23, 2013


British drugmaker GlaxoSmithKline revealed on Wednesday that pharmaceuticals and vaccines sales in China tumbled 61 percent in the third quarter, as it was rocked by a state bribery probe.

Worldwide sales however held steady at 6.51 billion pounds ($10.57 billion, 7.64 billion euros) in the third quarter or three months to September, compared with the same part of last year, GSK added in a results statement.

Profit after tax dropped 12 percent to 969 million pounds in the reporting period.

GSK chief executive Andrew Witty said the group had experienced "a significant sales decline in China, where operations have been disrupted by the ongoing investigation into our business".

The company has previously warned that its financial performance in China would take a hit from Beijing's probe into bribery allegedly carried out by senior staff.

In afternoon deals on Wednesday, the group's share price slid two percent to 1,568.85 pence on London's FTSE 100 index of top companies, which was 0.47 percent lower at 6,663.98 points.

GSK admitted in July that senior employees at its China unit appeared to have breached local law -- after Chinese authorities alleged that employees had bribed government officials, pharmaceutical industry groups, hospitals and doctors to promote sales.

"We continue to co-operate with the authorities and we remain fully committed to supplying our products to patients in the country," added Witty in the earnings release.

"At this stage, it is still too early for us to quantify the longer-term impact of the investigation on our performance in China."

.


Related Links
Hospital and Medical News at InternDaily.com






Comment on this article via your Facebook, Yahoo, AOL, Hotmail login.

Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News





INTERN DAILY
'Electronic blood' powers experimental computer mimicking human brain
Zurich, Switzerland (UPI) Oct 18, 2013
IBM researchers in Switzerland have unveiled a prototype of a new brain-inspired computer powered by what they're calling "electronic blood." The scientists at IBM's Zurich research center say they are learning from nature, building computers fueled and cooled by a liquid, like the human brain, which boasts phenomenal computing power while consuming only tiny amounts of energy. ... read more


INTERN DAILY
Indian farmer gets one-dollar cheque in flood relief

Quake-triggered landslides pose significant hazard for Seattle

Philippine quake island officials accused of aid 'hoarding'

Radioactive leaks top priority at Fukushima: nuclear watchdog

INTERN DAILY
Software Uses Cyborg Swarm To Map Unknown Environs

DLR, Thales Alenia Space and SES Develop Innovative Space-Based Air Traffic Control Monitoring System

Boeing, China Southern and China Aviation Authorities Establish Precision Navigation Procedures

Plan maps development of China's sat-nav industry

INTERN DAILY
Hitchhiking virus confirms saga of ancient human migration

Marmoset monkeys know polite conversation

Unique skull find rebuts theories on species diversity in early humans

Archaeologists rediscover the lost home of the last Neanderthals

INTERN DAILY
Poorly camouflaged insects can kick off a cascade of ecological impacts

Seeing in the Dark

Extinct 'mega claw' creature had spider-like brain

Adaptability to local climate helps invasive species thrive

INTERN DAILY
Baby's HIV 'cure not a fluke,' US researchers say

Delhi hospitals overflow with hidden dengue epidemic

Taiwan looks to first vaccine against fatal H7N9 avian flu

Projected climate change in West Africa not likely to worsen malaria situation

INTERN DAILY
China paper's front-page demand for journalist release

China paper's front-page demand for journalist release

Chinese villagers clash with police, injuring 27: reports

Outspoken China professor fired for poor teaching: university

INTERN DAILY
Seaman Guard owner to fight arrest of ship's crew in India

Somali pirates on trial for seizing French yacht

Accused Silk Road mastermind to be sent to New York for trial

Somali pirate suspects deny 'attack' on Spanish anti-pirate ship: court

INTERN DAILY
Walker's World: Why Europe's banks tremble

Outside View: J.P. Morgan and Justice's prosecutorial discretion

Rousseff battles to calm unrest among teachers, oil workers

China's economy grew 7.8% in third quarter: AFP survey




The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement