Senior Correspondent, London
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Sep 22, 2014
Sep 22, 2014

After China, GlaxoSmithKline faces pressure for change

LONDON (Reuters) – GlaxoSmithKline may have closed one chapter in a saga of corruption allegations by accepting a $489 million fine in China, but the drugmaker has its work cut out to win back skeptical investors.

That means continued pressure on Chief Executive Andrew Witty, seen not so long ago as one of the sector’s star managers, who is under fire for allowing the erosion of GSK’s all-important U.S. business just as much as for the woes in China.

Sep 22, 2014
Sep 22, 2014
Sep 19, 2014
Sep 19, 2014

China hands drugmaker GSK record $489 million fine, sentences executives

SHANGHAI/LONDON (Reuters) – China fined GlaxoSmithKline Plc (GSK.L: Quote, Profile, Research, Stock Buzz) a record 3 billion yuan ($490 million) on Friday for paying bribes to doctors to use its drugs, underlining the risks of doing business there while also ending a damaging chapter for the British drugmaker.

A court in the southern city of Changsha also sentenced Mark Reilly, the former head of GSK in China, and other GSK executives to between two and four years in jail, according to state news agency Xinhua.

Sep 18, 2014
Sep 17, 2014
Sep 17, 2014

For Roche CEO, celebrating failure is key to success

LONDON, Sept 17 (Reuters) – Roche Chief Executive
Severin Schwan likes to crack open the champagne with his drug
research teams at the end of a big project – especially when
they fail.

As the boss of one of the world’s most successful
pharmaceutical companies, whose leading position in cancer
treatments has propelled its market value to more than $250
billion, it might seem a strange response.

Sep 16, 2014
    • About Ben

      "Ben Hirschler is European pharmaceuticals, biotechnology and healthcare correspondent, based in London. Previously, he was in charge of British company news and before that was posted to Johannesburg, covering the economic challenges facing post-apartheid South Africa."
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