GSK bribery accusations revealed by Chinese police

<p>GSK officials have been accused of bribery.</p>

Officials at British pharmaceuticals company GlaxoSmithKline (GSK) have been accused by Chinese police of making "illegal" transfers.

Details of a bribery case being run by Chinese police have been released and show four senior Chinese executives from GSK are currently being held in the Asian nation.

Gao Feng, head of the economic crimes investigation unit, claimed that the firm transferred as much as three billion yuan (£323 million) to travel agencies and consultancies since 2007. GSK denies all wrongdoing.

Mr Feng stated that GSK was mainly responsible for bribes, which included cases of sexual bribery, adding: "We have sufficient reason to suspect that these transfers were conducted illegally. You could say the travel agencies and GSK were criminal partners."

Despite the accusations being levelled at GSK by police in China, the share price of the firm is up today (July 15th).

At 08:33 BST, its stocks were trading 3.5 points – a rise of 0.2 per cent – on the start of the day.

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