Wednesday preview : GSK to address bribery claims in results

23rd Jul 2013 13:46

GlaxoSmithKline(GSK) will hog headlines on Wednesday as it reports its second quarter results in the wake of bribery claims against the drugmaker in China. Chief Executive Andrew Witty is likely to detail what action the company will take in response to allegations it bribed doctors and government officials in China to boost sales of its medicines.Chinese authorities have been investigating the firm which has also been accused of deals with travel agencies worth up to 3.0bn yuan to facilitate bribes. The British pharmaceuticals has so far apologised for the behaviour of four senior executives in China who have were allegedly involved in the illegal activity.GSK said the executives were acting outside the firm's policies and procedures and has a zero tolerance for corruption.The group has declined to comment further ahead of the second-quarter results.The charges from China could also see GSK facing prosecution under Britain's Bribery Act and the US Foreign Corrupt Practices Act.easyJet, Wetherspoon, ARM Holdings and Tate & Lyle will also update the market on Wednesday with their latest results.On the macro-economic side, new home sales in the US and the UK's CBI Industrial Trends Surveys will be released. Wednesday July 24thINTERIMSARM Holdings, GlaxoSmithKline, Morgan Advance Materials , Synectics, Telekomunikacja Polska S.A GDR (Reg S)INTERIM DIVIDEND PAYMENT DATEAndrews Sykes Group, Sherborne Investors (Guernsey) 'A' SharesINTERIM EX-DIVIDEND DATEBlackrock Income And Growth Investment Trust, Chemring GroupQUARTERLY PAYMENT DATEAssura Group Ltd.INTERNATIONAL ECONOMIC ANNOUNCEMENTSNew Homes Sales (US) (15:00)Q2ARM Holdings, GlaxoSmithKlineGMSGlobal Investment House KSCC GDR (Reg S)FINALSRenishawIMSSeasyJet, Findel, Tate & LyleAGMSCaledonia Investments, China Food Co, EW Group Ltd, Fidelity China Special Situations , Helical Bar, Motive Television, Norcros, Origo Partners , PayPoint, ProPhotonix (Reg S), Rensburg AIM VCT, TalkTalk Telecom Group , Tate & LyleTRADING ANNOUNCEMENTSWetherspoon (J.D.)UK ECONOMIC ANNOUNCEMENTSCBI Industrial Trends Surveys (11:00)FINAL DIVIDEND PAYMENT DATEBig Yellow Group, Braemar Shipping Services, Home Retail Group, Intermediate Capital Group, Investec Structured Products Calculus VCT, Investec Structured Products Calculus VCT 'C' Shares, Octopus VCT , Proven Planned Exit VCTFINAL EX-DIVIDEND DATEHeath (Samuel) & Sons, Immunodiagnostic Systems Holdings, London Stock Exchange Group, Scapa GroupRD