GSK’s China Revenues May Be Down by 30% in Q3
publication date: Sep 24, 2013
China revenues for GlaxoSmithKline may drop as much as 30% in the third quarter, according to estimates from Citigroup, which cited feedback from industry sources. GSK is experiencing negative fallout from its three-month bribery scandal. Doctors are refusing to see the company’s sales reps, because they don’t want to be accused of any wrongdoing. And the revenue shortfall may affect other multinationals by the same 30%, said Citigroup, as doctors avoid the products of all foreign companies, even if the particular company has not been accused of corruption. More details....
Stock Symbol: (NYSE: GSK)
Share this with colleagues:
To gain access to the members only content click here to subscribe.
You will be given immediate access to premium content on the site.