AstraZeneca Under Intensified China Investigation

AstraZeneca is facing a serious investigation in China involving current and former executives, including its China president, Leon Wang, who is in detention. The probe, which has expanded to include various government agencies, is reportedly separate from a large health insurance fraud case but still involves allegations of data privacy breaches and illegal drug imports. The Chinese financial media firm Yicai reported that dozens of AstraZeneca executives might be implicated in the insurance fraud case, leading to a significant drop in the company's shares. This comes as AstraZeneca continues to cooperate with the Chinese authorities, and its operations in China remain ongoing under the leadership of Michael Lai. The ongoing investigations have led to the arrest of several employees, further intensifying scrutiny on the company's practices in China. Despite these challenges, AstraZeneca continues to deliver medicines in the region while addressing the allegations.