China Regulator Probed Siemens Healthcare Unit Last Year For Bribery: Report

(RTTNews) - Siemens AG (SIEGY.PK, SMAWF) was probed by a Chinese regulator last year, alleging its healthcare unit and its dealers bribed hospitals to purchase costly disposable products used in some of its medical devices, Reuters reported, quoting three people with knowledge of the investigation.

China initiated a large-scale investigation into the pharmaceutical industry last year, which saw giants like GlaxoSmithKline Plc. being fined about $500 million for bribing officials to boost the sale of its medicines.

According to the report, China's State Administration for Industry and Commerce accused Siemens and its dealers of violating competition law by donating medical equipment in return for agreements to exclusively buy the chemical reagents needed to run the machines from Siemens. The probe has not previously been reported.