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Tuesday, 17 December 2013

GlaxoSmithKline to halt payment to doctors

The global market player in medication and cosmetics, GlaxoSmithKline to doctors. GSK paid doctors and sponsored them to attend conferences and offer services such as consultancy and advice, which would indirectly link and benefit back to GSK, in promotion of products. As good or clever as it sounds, it is not the best as it is unreliable and can get very messy, where issues of corruption get involved. GlaxoSmithKline is in fact being investigated in China, for a very large corruption and bribery probe. This practice is also bad as it can very easily go wrong, and can become illegal, and not only in the form of bribery. GSK has already been fined billions in the past, on the charge of "improper sales tactics".
To prevent further damage, loss and fines, as well as make their marketing methods clearer and more concise, they have decided to stop paying doctors, and scrap that method completely. This will also give them a chance to clear up the situation relatively in China with the bribery situation.
"We recognise that we have an important role to play in providing doctors with information about our medicines, but this must be done clearly, transparently and without any perception of conflict of interest," said Andrew Witty, CEO of GlaxoSmithKline 
http://www.theguardian.com/business/2013/jul/22/glaxosmithkline-admits-bribery-china

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