economy of China

GSK commits to ensure work benefits patients, economy of China
BEIJING, July 22 () -- Drug giant GlaxoSmithKline said Monday it will work with Chinese officials to "root out corruption" and take "all necessary actions" in a corruption probe."I want to make it very clear that we share the desire of the Chinese authorities to root out corruption wherever it exists. We will continue to work together with the [Ministry of Public Security] and we will take all necessary actions required as this investigation progresses," Abbas Hussain, GSK's president of international operations said in a statement after meeting with ministry officials.A ministry statement issued Sunday said some senior executives of GSK-China colluded with affiliated companies to offer bribes as a way to jack up drug prices, grow sales and get illegal profits, The Wall Street Journal reported.The suspected crimes not only violated Chinese laws but also harmed Chinese patients' interests,[url=http://www.whsusa.com/]Gucci Shoes Sale[/url], an unidentified ministry official.The meeting came after the MPS announced July 11 that some GlaxoSmithKline-China employees were under investigation for suspected bribery and tax-related violations. Four company executives were being detained by police."We fully support the efforts of the Chinese authorities in their reforms of the medical sector and stand ready to work with them to make the changes for the benefit of patients in China," Hussain said in the statement. "We will actively look at our business model to ensure we make a significant contribution to meeting the economic, healthcare and environmental needs of China and its citizens."Hussain said savings resulting from any proposed changes "will be passed on in the form of price reductions,[url=http://www.whsusa.com/]Parajumpers Jackets Sale[/url], ensuring our medicines are more affordable to Chinese patients."

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