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China fines GSK $489 million, jails executives: Xinhua


    BEIJING (Reuters) - China has fined British pharmaceuticals giant GlaxoSmithKline Plc 3 billion yuan ($488.8 million) for paying out bribes in what is a record penalty for China, state news agency Xinhua said on Friday.

    Mark Reilly, the former head of GSK in China, and other GSK executives will also be jailed for two to four years, Xinhua said.

    (Reporting by Koh Gui Qing and Fiona Li)