Digital Olympus Comments GlaxoSmithKline Alleged FCPA Violations as Reported in the New York Times

In the light of a recent New York Times article regarding GlaxoSmithKline Alleged FCPA Violations, commented on the news article emphasizing the government's tendency to approach FCPA misconducts more severely in the last few years.


Chattanooga, TN -- (SBWIRE) -- 07/30/2013 -- On July 26, news and technology blog Digital commented on a New York Times news article by David Barboza regarding the Department of Justice and the Securities and Exchange Commission’s ongoing probe of the global pharmaceutical giant GlaxoSmithKline (GSK) for alleged Foreign Corruption Practices Act violations.

According to the New York Times news story, the British healthcare company GlaxoSmithKline said last week that the authorities were investigating whether senior managers working for the pharmaceutical company in China were supposedly involved in bribery and other “economic crimes.”

The New York Times news article also revealed that a few weeks ago a whistle-blower sent information to GlaxoSmithKline’s board claiming that their employees in China had been bribing doctors. After that GSK said they conducted an internal thorough investigation that concluded there was no incontrovertible evidence of bribery.

In response to the New York Times news article, lead researcher Josh Cole took the opportunity to stress out the importance of having a trustworthy firm specialized in conducting due diligence investigations that can help companies prevent this kind of situations in a timely manner.

“At Digital Olympus we have explained the impact that business intelligence can have in a company when it’s part of a program developed by a specialized firm,” said Cole. “Nowadays is more about preventing than remedying. The best course of action is to employ experts in FCPA before venturing into international markets, especially China.”

The Wall Street Journal news article concluded by quoting Simon Steel, a GlaxoSmithKline spokesman, who said last Monday that even though it was still unclear for them what was the precise nature of that Foreign Corruption Practices Act investigation, they were definitely planning to cooperate.

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