GlaxoSmithKline today said the presence of chief executive Andrew Witty on David Cameron’s trade trip to China showed the drug giant’s commitment to the country.
Witty is visiting China for the first time since allegations emerged earlier this year that Glaxo funnelled up to three billion yuan (£299 million) in bribes to doctors and officials to boost medicine sales.
“It’s an important opportunity to show our continued commitment to China and to supplying our medicines to the country,” said a Glaxo spokesman.
Witty declined to comment on the investigation into the allegations, but added that Glaxo would have something to say “quite soon”.
Cameron’s trip also saw InterContinental Hotels Group boss Richard Solomons announce it plans to double the number of hotels it runs in China. Solomons said China is already IHG’s second-largest market after the US, and is likely to exceed it in number of rooms by 2025.
He added: “Having been in China for 30 years, IHG has a deep understanding of the market and of consumers’ needs.”
Cameron said: “IHG’s plans to double the number of their hotels across China over the next five years is a great example of how British businesses can benefit from China’s growing middle class.”
On the same trade mission, London-based Standard Chartered signed a new memorandum of understanding with Agricultural Bank of China to bring renminbi trading services to its UK clients.
