Pascal Soriot, the AstraZeneca chief executive, stated: 'We take the matters in China very seriously. If requested, we will fully cooperate with the authorities.' His reassurance reflects the company's commitment to transparency and adherence to local regulations while navigating these challenges in a crucial market.
AstraZeneca's share price has declined recently, driven notably by the investigation of its China president, Leon Wang, amidst a broader scrutiny of the pharmaceutical industry resulting from Beijing's anti-corruption campaign.
The investigations reportedly focus on the importation of Imjudo and Enhertu cancer drugs, including potential shipments from Hong Kong before proper approvals were secured in mainland China.
Following the investigation, AstraZeneca has appointed Michael Lai as its new China general manager, indicating the company's efforts to stabilize its operations during this challenging phase.
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