AstraZeneca says its China operations president under investigation

AstraZeneca's China president is nether probe and is cooperating with Chinese authorities, the institution said connected Wednesday, sending shares down arsenic overmuch arsenic 5.3%.

It was not instantly wide whether the enforcement Leon Wang was successful the custody of the Chinese government. When asked astir Wang's whereabouts, a institution spokesperson lone reiterated that the enforcement was nether investigation.

The Anglo-Swedish institution has for years had 1 of the strongest marketplace positions among occidental drugmakers successful China, the world's No.2 pharmaceuticals marketplace down the United States. It has invested heavy successful the country, announcing plans past twelvemonth to physique a $450 cardinal mill and much precocious signing a fig of licensing deals with Chinese companies.

In a statement, the drugmaker said its Chinese operations were "under the enactment of the existent wide manager of AstraZeneca China," without providing further details.

"If requested, AstraZeneca volition afloat cooperate with the investigation", the connection read.

AstraZeneca shares were down 5.2% astatine 1352 GMT.

In September, China detained 5 of AstraZeneca's existent and erstwhile employees for questioning.

The institution has not fixed details astir the detention successful September and a spokesperson had nary remark connected Wednesday connected the presumption of the employees being held.