Pharma Giant AstraZeneca Takes China Probes 'Very Seriously' [Barron's]
AstraZeneca PLC - American Depositary Shares (AZN)
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Source: Barrons
potential illegal data collection and drug imports by the group that led to the detention of its China boss. "We take the matters in China very seriously," chief executive Pascal Soriot said in a statement contained in the group's latest earnings release that revealed a small rise in net profit. "If requested we will fully cooperate with the authorities. We remain committed to delivering innovative life-changing medicines to patients in China," he added. The group last week confirmed Leon Wang, president of AstraZeneca China, had been detained. China is a key market for AstraZeneca, developer of a Covid-19 jab widely administered throughout the world during the coronavirus pandemic. AstraZeneca on Tuesday noted that China accounted for about 12 percent of its global revenues in the third quarter. Sales in the country jumped 15 percent in the July-September period. "The company is aware of a number of individual investigations by the Chinese authorities into current and for
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