please try again.
1
Your Location:
Homepage
/
International drug executives consider leaving China to avoid anti-corruption limelight

International drug executives consider leaving China to avoid anti-corruption limelight

  • Categories:INDUSTRY NEWS
  • Author:
  • Origin:
  • Time of issue:2014-06-14 10:20
  • Views:

(Summary description)Beijing time on June 13 morning news, according to Reuters reported that China's fight against corruption in the pharmaceutical industry has led some foreign executives to consider leaving the issue.

International drug executives consider leaving China to avoid anti-corruption limelight

(Summary description)Beijing time on June 13 morning news, according to Reuters reported that China's fight against corruption in the pharmaceutical industry has led some foreign executives to consider leaving the issue.

  • Categories:INDUSTRY NEWS
  • Author:
  • Origin:
  • Time of issue:2014-06-14 10:20
  • Views:
Information

Beijing time on June 13 morning news, according to Reuters reported that China's fight against corruption in the pharmaceutical industry has led some foreign executives to consider leaving the issue. Concerned about the penalty, executives from some foreign pharmaceutical companies have been communicating with lawyers to consider temporarily leaving China.

Earlier, Mark Reilly, former general manager of the British maker GlaxoSmithKline, had been banned from leaving on the grounds of bribery and could face a decade in jail.

Some legal and pharmaceutical industry sources said Mark's sharp charge prompted some pharmaceutical executives to look at their current situation. John Huang, co-founder and managing partner at Yuan Da Law Offices, said: "Many of our clients are consulting individual liability and insurance executives asking what impact the family will have if they are stuck in the company, What kind of protection will be provided. "

Police said after a year-long investigation, GSK found that it had systematically bribed billions of Chinese doctors and hospitals. The company said it is concerned about these allegations and will not tolerate bribery. Reuters can not contact Mark Rui himself, and his lawyer also declined to comment on where Mark Rui is currently unknown.

Some international pharmaceutical companies have declined to comment on China's anti-corruption campaign and its impact on morale. But John Huang and two executives in the pharmaceutical industry revealed that managers are reconsidering the legal risks behind their current positions, managing thousands of international drug sales and marketing professionals in China.

Some lawyers said that some pharmaceutical company executives and in-house lawyers have already sought relevant opinions on the issue of leaving China in the hope of avoiding being involved in the investigation. A source said some of the top executives of foreign pharmaceutical companies are actively planning to seek jobs in other countries. Still others are looking to temporarily evade the limelight.

A lawyer working in Shanghai said: "They are considering leaving China for a while and staying abroad for three to six months." Due to the sensitivity of the issue, the lawyer declined to give his name.

Some lawyers said that by going overseas, pharmaceutical executives want to avoid being involved in a formal investigation of their company, executives have been to Singapore, Hong Kong and other destinations for advice.

In addition, two executives at a global pharmaceutical company said some international companies find it hard to attract employees to work in China. The two executives also declined to be named because they were not authorized to stand up to the media.

Some executives think the turmoil in the GSK is only an isolated event, and their concern is to avoid violating the U.S. Foreign Corrupt Practices Act, which applies to all types of companies that have business ties with the United States. However, Stephen Dickinson, a partner at Harris Moure law firm, said it was a mistake to consider the U.S. Foreign Corrupt Practices Act. Dickinson said: "Some executives made the wrong point: You do not have time to think about breaking the law of the United States, because you may have been trapped in China."

Scan the QR code to read on your phone

Jiuzhou Fangyuan Pharmaceutical Co., Ltd. 

Add:No. 2129, West Section of Yaodu Avenue, Qiaocheng District, Bozhou City, Anhui Province
Sales Department Tel:
0558-5909999
Recruitment Hotline:0558-5606184
Enterprise email:ahjzfyyy@163.om

Jiuzhou Fangyuan Pharmaceutical Co., Ltd.

Scan to follow us

opyright:Jiuzhou Fangyuan Pharmaceutical Co., Ltd.       皖ICP备19020158号-1       Powered by: www.300.cn