Spooked by probes, pharma executives ask: should I leave China?




 
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Spooked by probes, pharma executives ask: should I leave China?
 
June 13th, 2014  
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Topic: Spooked by probes, pharma executives ask: should I leave China?


Spooked by probes, pharma executives ask: should I leave China?
By Adam Jourdan SHANGHAI (Reuters) - China's crackdown on corruption in the pharmaceutical sector has frightened foreign executives so much that some fear they could be jailed and have asked their lawyers if they should leave the country for six months. While the crackdown has been building for a year, Chinese police shocked the foreign business community a month ago when they filed corruption charges against Mark Reilly, former China head of British drugmaker GlaxoSmithKline Plc. The Briton, who has been barred from leaving China, could face decades in prison. Even before then, executives were getting worried about a wave of visits from police and regulators to their offices as well as articles in Chinese media alleging corrupt practices against many global drugmakers. The charges against Reilly had prompted some senior executives to look at all contingencies, several legal and industry sources said.




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