British pharmaceutical group GlaxoSmithKline has received notification from the UK's Serious Fraud Office (SFO) that it is opening a formal investigation into its business practices in other countries as Glaxo is facing allegations of alleged corruption in Poland, China and in Iraq. The company said it is committed to conducting its business according to the highest ethical standards and will cooperate fully with the SFO. GSK may have breached the UK Bribery Act and 'Foreign Corrupt Practices' law, and the OFS has the jurisdiction to take action on any alleged bribery offense committed by a British firm, regardless of where it occurs.
