AstraZeneca’s China boss, one of the country’s most high-profile pharmaceutical executives, is under investigation by Beijing authorities, as a crackdown on the sector intensifies.
The British drugmaker said on Wednesday that its China president Leon Wang was “co-operating with an ongoing investigation”. The statement did not clarify the nature of the probe.
The pharmaceutical chief has been crucial to AstraZeneca’s fortunes in China, where it generated $5.9bn in revenues last year, making it the largest overseas drugmaker by sales in the country. AstraZeneca shares fell 4 per cent in afternoon trading in London on Wednesday.
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