Updated on 5 November 2013
Glaxo reported a 61 percent drop in sales in the third quarter, following the investigations
Singapore: A recent Reuters report has specified that British drug major GlaxoSmithKline, which is facing bribery, corruption and sexual harassment charges in China, is likely to escape all charges. However, the report mentioned that the executives involved probably won't be spared.
The Reuters source said in the report that the company probably won't face corruption charges in China, but Glaxo's local executives probably will. Further, he added that the former head of GSK's China operations, Mr Mark Reilly, could also escape criminal charges.
Meanwhile, Glaxo's sales in China have suffered following the investigations. The company reported a 61 percent drop in sales in the country for the third quarter.
Chinese authorities on the other hand are said to be considering an astronomical fine against GSK. Reuters sources have confirmed that the big fines are likely, but have ruled out discontinuation of GSK's operations in China. GSK had earlier admitted breaches of Chinese law and had apologized to government officials, offering price cuts into the bargain.