GSK Chief Acknowledges Chinese Bribery Allegations Probably True

GlaxoSmithKline plc (ADR) (NYSE:GSK) Andrew Witty said that it appeared the allegations of corruption by four GSK executives in China were probably true, calling the situation “personally deeply disappointing,” reports Denise Roland with The Telegraph. GlaxoSmithKline (GSK) is being investigated GlaxoSmithKline plc (ADR) (NYSE:GSK) is being investigated on allegations that the company created a complex network of ‘travel agents’ to bribe people throughout the Chinese health sector. Under the guise of travel agents helping doctors, regulators, and others plan travel to conferences, this network allegedly disbursed RMB 3 billion ($488 million) in order to boost its drugs’ market share and prices. Four…