Chinese dad in Stanford admission scandal faces scrutiny over company's sales expenses

HONG KONG - The Chinese father who allegedly paid US$6.5 million to get his daughter into Stanford University has another reason to worry: His pharmaceutical company is under scrutiny by the Shanghai stock exchange regulator over the level of its sales expenses.

The company, which sells herbal medicines and bio-pharmaceuticals, said that the sales expenses were for general marketing and consulting, but did not explain why it was higher than the industry average. Paying fees to doctors and hospitals for prescribing products is an oft-reported although legally questionable occurrence in the pharmaceutical industry in China. In 2014, British drugmaker GlaxoSmithKline had to pay a half a billion dollar fine after China charged the company with bribery of local health officials.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

GSH Corp Q1 net profit dives 70.3% on higher cost of sales, finance expensesNET profit for GSH Corporation dived 70.3 per cent to S$329,000 for the first quarter ended March 31, down from S$1.1 million a year ago, the property developer reported in a Singapore Exchange (SGX) filing on Monday. Read more at The Business Times.
Source: BusinessTimes - 🏆 15. / 51 Read more »

Vaping companies facing European opposition to higher nicotine levelDUBLIN: A push by makers of electronic cigarettes to raise nicotine levels in the European Union towards their far higher American levels is ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »

Vaping companies facing European opposition to higher nicotine levelA push by makers of electronic cigarettes to raise nicotine levels in the European Union towards their far higher American levels is running into ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »