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China Fines Glaxo $489 Million, Ending Bribery Probe

China fined GlaxoSmithKline Plc 297 million pounds ($489 million) and imposed a suspended prison sentence on an executive for bribing doctors, capping a 15-month investigation that curbed the U.K. drugmaker’s sales.

Glaxo will pay the fine with cash on hand and take a charge against third-quarter earnings, the London-based company said in a statement today. A court in China sentenced Mark Reilly, formerly the company’s top executive in the country, to three years in prison, though it suspended the sentence, the official Xinhua News Agency reported.