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AstraZeneca Plc’s China President Leon Wang is under investigation by the country’s authorities, as Beijing’s intensifying regulatory scrutiny on the British drug giant.
Wang is cooperating and, if requested, Astra too will “fully cooperate with the investigation,” the British company said without revealing further details about the probe.
Wang’s involvement is a significant escalation of China’s probe into the company, after police detained multiple current and former Astra employees for questioning earlier this year over potential illegal activities. It’s a sign that Beijing is widening its scrutiny of Astra’s operations in mainland China, a worrying development for the drugmaker which counts on the country for 13% of total revenue.
The company said its China arm will continue under the leadership of General Manager Michael Lai. The world’s second-biggest economy is an important market for AstraZeneca
AstraZeneca Plc’s China President Leon Wang is under investigation by the country’s authorities, as Beijing’s intensifying regulatory scrutiny on the British drug giant.
Wang is cooperating and, if requested, Astra too will “fully cooperate with the investigation,” the British company said without revealing further details about the probe.
Wang’s involvement is a significant escalation of China’s probe into the company, after police detained multiple current and former Astra employees for questioning earlier this year over potential illegal activities. It’s a sign that Beijing is widening its scrutiny of Astra’s operations in mainland China, a worrying development for the drugmaker which counts on the country for 13% of total revenue.
The company said its China arm will continue under the leadership of General Manager Michael Lai. The world’s second-biggest economy is an important market for AstraZeneca
2 hours ago
