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Policy

Chinese Drug Firm In Graft Probe

by Jean-François Tremblay
January 20, 2014 | APPEARED IN VOLUME 92, ISSUE 3

A former executive with one of China’s largest pharmaceutical groups, China National Pharmaceutical Group (Sinopharm), was arrested in a corruption investigation in Shanghai. Before he resigned on Dec. 29, Jinming Shi was the company’s vice president. Sinopharm further disclosed that a former general manager, Yizhong Xu, is also embroiled in the police investigation. The company formed a committee to review its internal controls and also to handle all other matters related to the investigation. Chinese authorities began last year to probe the sales practices of pharmaceutical companies, starting with the arrest of four GlaxoSmithKline managers (C&EN, July 22, 2013, page 6). Hong Kong-listed Sinopharm is the first major Chinese drug company that has had managers arrested.

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