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GSK statement in response to recent media coverage related to our China business

Following media coverage, GSK has issued the below statement.

Issued: London UK

Following media coverage, GSK has issued the below statement:

“The issues relating to our China business are very difficult and complicated.

“GSK takes all whistle-blowing allegations very seriously and actively encourages whistle-blowers to come forward if they have concerns. Investigations into the allegations made in early 2013 about GSK’s business in China were conducted over several months with the support of external legal and audit advice. Some fraudulent behaviour relating to expense claims was identified, and this resulted in employee dismissals and further changes to our monitoring procedures in China. However, this investigation did not find evidence to substantiate the specific allegations made in the whistleblower emails.

“GSK China hired ChinaWhys in April 2013 to conduct an investigation following a serious breach of privacy and security related to the company’s China general manager. They were not hired to investigate the substance of the allegations of misconduct made by the whistleblower.

“Our China business is now subject to an ongoing investigation by the Chinese authorities with which we are fully cooperating. We have also hired an external law firm, Ropes and Gray, to conduct an independent review into what happened in our China business during this period.

“We have zero tolerance for any kind of corruption in our business and we have many policies, procedures and controls in place to monitor this and take action against any breaches.

“As we have said previously, the allegations that have been raised are deeply concerning to us. We are learning lessons from this situation and we are determined to take all actions necessary as a result.”

GSK – one of the world’s leading research-based pharmaceutical and healthcare companies – is committed to improving the quality of human life by enabling people to do more, feel better and live longer. For further information please visit www.gsk.com.

Cautionary statement regarding forward-looking statements

GSK cautions investors that any forward-looking statements or projections made by GSK, including those made in this announcement, are subject to risks and uncertainties that may cause actual results to differ materially from those projected. Such factors include, but are not limited to, those described under Item 3.D 'Risk factors' in the company's Annual Report on Form 20-F for 2013.