GlaxoSmithKline Found Guilty of Bribery in China

The Wall Street Journal reports that a Chinese court found GlaxoSmithKline’s local subsidiary guilty of bribery and fined the company nearly $500 million, capping a scandal that has shaken China’s pharmaceutical industry. Five of the company’s managers, including Mark Reilly, its former top China executive, were convicted of bribery-related charges and received suspended prison sentences. Glaxo still might be fined in the U.S. and U.K., and it faces several continuing investigations around the world.