Chinese pharma companies now also implicated in bribery allegations

13 September 2013

Chinese drug company Sino Biopharmaceutical is the latest subject of allegations into corruption in the Chinese pharmaceutical market.

The company, based in Beijing, issued a statement yesterday which said that it has set up a team to investigate allegations broadcast on state television that its subsidiary Chia Tai Tianqing Pharmaceutical Group had paid for illegal overseas trips for doctors.

On the news its stocks fell 16% to HK$4.76 before trading was suspended, but it rebounded 1% as trading resumed on Friday.

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