Is Pharma Saying Goodbye to China?
How do you say goodbye in Chinese? In Mandarin, it’s pronounced “zài jiàn.”
In a recent news article, China’s crackdown on GSK (GlaxoSmithKline) could signal broad implications with many big pharma companies considering an exit strategy if things get any worse. Pharmaceutical companies are looking at all avenues in the wake of kickback and/or corruption charges, which have been filed against Mark Reilly who formerly ran the China division for GSK. The Brit is currently banned from leaving China and could serve many years in prison if convicted. At present, it appears that his whereabouts are unknown.
The crackdown in China shows no signs of receding. Some executives are considering relocating to other countries until the worst blows over. Recently, Chinese authorities visited Roche, Novartis AG, AstraZeneca Plc, Sanofi SA, Eli Lilly & Co., Bayer AG and Novo Nordisk A/S. All of these companies have stated that they were cooperating with the Chinese authorities. Many have already made changes although some have stated that it had nothing whatsoever to do with the move by Chinese authorities against GSK.
Nolan Auerbach & White represents whistleblowers across the USA. Unlawful conduct which occurs overseas is subject to the False Claims Act under certain circumstances.