AstraZeneca China President Under Investigation

Leon Wang, AstraZeneca's China President, is under investigation by Chinese authorities, resulting in a 5.3% drop in the company's shares. Although Wang's whereabouts remain unclear, AstraZeneca confirmed his cooperation with the investigation while ensuring that operations in China continue under the current General Manager. Wang, who has led AstraZeneca's significant growth in the Chinese market since 2014, may face scrutiny following the recent detention of five employees. The company has pledged full cooperation with authorities if necessary, but specific details about Wang's situation and the investigation have not been disclosed. Investors are advised to monitor the developments closely, given AstraZeneca's substantial position in the Chinese pharmaceutical market.