NEW YORK (TheStreet) -- Shares of GlaxoSmithKline Plc (GSK) are down 0.71% to $46.45 in pre-market trade after it was reported that a U.S. anti-bribery probe into the company touched on the firm's Chinese consumer healthcare business in 2012, internal documents show, suggesting the drugmaker's compliance problems in China could be wider than previously revealed, Reuters reports.
GSK confirmed it had conducted an investigation into procurement practices in consumer healthcare in China, but said it did not find any "unethical conduct". It said the inquiry was unrelated to a Chinese criminal investigation into corruption in its pharmaceuticals division that was made public last year, Reuters said.
Three "preservation notices" seen by Reuters show GSK was conducting a focused investigation into specific people and suppliers in China at least as far back as 2012.
Highlights from the analysis by TheStreet Ratings Team goes as follows: