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| China fines GlaxoSmithKline $490m over bribery | |
| (35 minutes later) | |
| China has fined UK pharmaceuticals firm GlaxoSmithKline $490m (£297m) after a court found it guilty of bribery. | |
| The record penalty follows allegations the drug giant paid out bribes to doctors and hospitals in order to have their products promoted. | The record penalty follows allegations the drug giant paid out bribes to doctors and hospitals in order to have their products promoted. |
| GSK's former head of Chinese operations, Mark Reilly, has been given a three-year prison sentence - although it has been suspended for four years. | |
| Other GSK executives have also been given suspended jail sentences. | |
| The guilty verdict was delivered after a one-day trial at a court in Changsha, according to the Xinhua news agency. | |
| Chinese authorities first announced they were investigating GSK in July last year, in what has become the biggest corruption scandal to hit a foreign firm in years. | |
| GSK said it had "published a statement of apology to the Chinese government and its people". | 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. | "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 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." | "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." |