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  • 09.30.16

GlaxoSmithKline to pay $20 million fine over bribing of foreign officials 

Pharma giant GlaxoSmithKline agreed to pay $20 million to the U.S. Securities and Exchange Commission after an investigation into whether a Chinese subsidiary bribed foreign officials in the form of gifts and travel to increase product sales. 

The company didn’t confirm or deny the findings, but agreed to provide status reports to the SEC for the next two years. CF