صحافة بلادي صحيفة إلكترونية مغاربية متجددة على مدار الساعة تعنى بشؤون المغرب الجزائر ليبيا موريتانيا تونس
The British pharmaceutical company AstraZeneca announced that the investigations being conducted by the Chinese authorities regarding possible violations of drug import and data protection laws include four of its employees, including two current and two former officials.
A company spokesman said the investigations also include Leon Wang, AstraZeneca’s president in China, who remains in detention. The spokesman explained that the charges relate to transporting cancer medicines from Hong Kong to China illegally. Earlier, it was reported that some of the company’s employees were accused of smuggling the drug “Imgodo” used in immunotherapy to China, even though this drug did not obtain approval there, while it was approved in other countries.
AstraZeneca indicated that these investigations relate to individual criminal cases, and that the company itself, whose headquarters are located in the United Kingdom, was not subject to interrogation in the case.
The repercussions of the investigations on the company’s shares
These developments come at a sensitive time for AstraZeneca, as company officials informed investors of the details of the investigations in an attempt to allay fears that arose following a report published by the Chinese “Yikai” news platform, which cast a shadow of concern on the financial markets. As a result, the company’s shares fell 2.4% on Wednesday, after falling further the day before.
The arrest of Leon Wang, who is credited with the company’s success in the Chinese market, is a major development that could significantly impact AstraZeneca’s future activities in China, and represents a major escalation by Chinese authorities. It is noteworthy that China represents about 13% of the company’s total revenues, and health reforms in China have contributed to accelerating approvals for innovative medicines, which has helped AstraZeneca achieve significant sales of its cancer drugs.
The role of AstraZeneca in the Chinese market
AstraZeneca has benefited from broad regulatory reforms in China’s healthcare sector, which have helped accelerate the approval process of innovative medicines, including life-saving ones. The company also provided significant discounts on the prices of cancer drugs to be included in government health insurance programs in China. This approach has greatly helped in boosting the company’s sales in the Chinese market and increasing revenue value.
But the ongoing investigations in China may raise doubts about the company’s future in this large market, which is one of the main markets for AstraZeneca globally.
