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China Probes Glaxosmithkline Plc-Reuters

Thursday, 4 Jul 2013 01:34am EDT 

Reuters reported that China's top economic planning agency has opened an investigation into GlaxoSmithKline Plc's operations in China, an official newspaper reported, as foreign firms come under pressure from Beijing for possible price-fixing. The National Development and Reform Commission (NDRC) has begun a survey on production costs at 60 firms, including Britain's GlaxoSmithKline and 10 China-listed firms, the official Securities Daily said. The investigation could focus on the difference in prices of imported products sold by foreign firms, such as GlaxoSmithKline, in China compared with those in other markets. The NDRC did not reply to a request from Reuters for more details. Officials at GlaxoSmithKline could not be immediately reached for comment. 

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