Pharmaceutical giant GlaxoSmithKline is in hot water in China. Embroiled in a corruption scandal, the company admitted on Monday that several of its executives appear to have violated Chinese law.
Last week, China accused GSK of bribing doctors and other officials to increase sales of its drugs and keep their prices high. Chinese police allege that the company transferred as much as 3 billion yuan ($489 million) to consultancies and travel agencies over the past six years. The police are barring GSK finance director Steve Nechelput from leaving the country, and have detained four other executives.