By: Anish Karthik -- Senior Research Analyst
27 March, 2014
Problem Statement: ? Global pharmaceutical majors in China, including GSK, Eli Lilly and Sanofi are under regulatory scanner for bribing doctors, government officials and hospitals to boost sales and increase market share of their trademark drugs ? Bribes found to be channeled by third party agencies to the HCPs under the pretext of fictitious medical conferences, sometimes even continuing medical education programs ? Strong counter measures focused on the pharmaceutical industry from government in the form of raids, arrests and fines poses serious risk to MNCs Subsequently pharmaceutical companies are going all out to ensure compliance and prevent corruption from affecting their image and business prospects in China.
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