Shanghai Pharma Ex-CEO Given Death Penalty Reprieve For Corruption
This article was originally published in PharmAsia News
Executive Summary
Wu Jianwen, former president of Shanghai Pharmaceutical Group Ltd. was given a suspended death sentence for accepting bribes and embezzling and misappropriating public funds between 2000 and 2010.
Wu Jianwen, former president of Shanghai Pharmaceutical Group Ltd. was given a suspended death sentence for accepting bribes totaling RMB 11.87 million and embezzling and misappropriating public funds amounting to RMB 5 million and RMB 33.55 million respectively between 2000 and 2010. Wu joined the SPGC in 1991 and was appointed the group’s president in 2008 at the age of 39. Of his 12 bribery charges, eight involved other pharmaceutical companies whose related officials were either investigated or prosecuted. In China. it was commonplace for agencies to bribe the decision makers of drug manufacturers for exclusive product distribution rights, higher quality medicines, and lower prices. (Click Here For More - Chinese Language
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"State-Run Firm Senior Official Gets Suspended Death Penalty For Corruption"- finance.qq.com (3/19/2012)