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Fines and jail for GSK China bribery China fines GlaxoSmithKline and jails executives for bribery
(35 minutes later)
China fines pharmaceuticals firm GSK $490m for bribery and jails executives, state media report China has fined UK pharmaceuticals firm GlaxoSmithKline $490m (£297m) for bribery and state media has reported that several executives will be jailed.
This breaking news story is being updated and more details will be published shortly. Please refresh the page for the fullest version. The record penalty follows allegations the drug giant paid out bribes to doctors and hospitals in order to have their products promoted.
If you want to receive Breaking News alerts via email, or on a smartphone or tablet via the BBC News App then details on how to do so are available on this help page. You can also follow @BBCBreaking on Twitter to get the latest alerts. GSK's former China head, Mark Reilly, will be among those jailed, according to China's Xinhua news agency.
Mr Reilly and other GSK executives faces sentences of two to four years.
GSK said it had "published a statement of apology to the Chinese government and its people".
"Reaching a conclusion in the investigation of our Chinese business is important, but this has been a deeply disappointing matter for GSK," said chief executive Sir Andrew Witty in a statement.
"We have and will continue to learn from this. GSK has been in China for close to a hundred years and we remain fully committed to the country and its people," he said.
"We will also continue to invest directly in the country to support the government's health care reform agenda and long-term plans for economic growth."