Chinese Authorities Probe Danish Drug Cos. Amid GSK Fallout

Law360, New York (August 8, 2013, 2:09 PM EDT) -- Chinese authorities have begun to look into Danish drug companies, including Novo Nordisk A/S, amid an ongoing probe into GlaxoSmithKline PLC’s disclosure about bribery by some of its executives in China, a Novo Nordisk spokesman confirmed Thursday.

Local authorities from the Administration for Industry and Commerce in the northern Chinese city of Tianjin visited Novo Nordisk's unit there on Aug. 1, the firm’s communications director Mike Rulis confirmed to Law360, although he said the purpose of their visit was vague.

“Whether the visit was a routine...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.