I’d like to transfer some money to this account GSK is under investigation by Chinese authorities over Rmb300bn (Â£320m) in potential bribes to individals at every level of the healthcare system, from doctors to government officials, in order to win market share and agree higher prices. Authorities claim the transactions were disguised as payments to a complex network of 700 “travel agents” – middlemen who organise conferences and events for doctors.
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Recent examples include U.S. generics firm Perrigo’s $8.6billion acquisition of Ireland-based Elan, on which Barclaysadvised Perrigo, and General Motors taking a sevenpercent stake in Peugeot last year.