"We take the matters in China very seriously," chief executive Pascal Soriot said in a statement contained in the group's latest earnings release. He emphasized AstraZeneca's commitment to deliver innovative life-changing medicines to patients in China, asserting they would fully cooperate with authorities if requested.
AstraZeneca confirmed Leon Wang, president of AstraZeneca China, had been detained. The company stated it is aware of investigations by Chinese authorities into medical insurance fraud, illegal drug importation, and personal information breaches involving its current and former employees.
China accounted for about 12 percent of AstraZeneca's global revenues in the third quarter, with sales growing by 15 percent in the recent July-September period, underscoring the importance of the Chinese market to AstraZeneca's business.
The investigations involve five current and former employees, all Chinese citizens, and include allegations of potential breaches of Chinese privacy laws related to the collection of patient data and the importation of an unapproved liver cancer drug.
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