February 20, 2014 / 6:40 PM / 4 years ago

Mead Johnson says found no evidence it broke laws in China

BOCA RATON, Fla., Feb 20 (Reuters) - Baby formula maker Mead Johnson Nutrition Group, which is investigating its business for possible illicit payments to hospital officials in China, has not found evidence of anything illegal, its chief executive said on Thursday.

The company said the internal investigation has uncovered what it thinks are violations of policy, but not laws.

Earlier this week, the company said in a regulatory filing that certain expenditures made in connection with the promotion of its products “may have been made in violation” of U.S. or local laws.

Speaking at the Consumer Analyst Group of New York (CAGNY) conference in Boca Raton, Florida, on Thursday, Mead Johnson Chief Executive Kasper Jakobsen said that it so far has not found any violation of laws.

Mead Johnson shares were up 3 percent at $81.05 on the New York Stock Exchange.

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