(Reuters) -AstraZeneca will buy longtime partner FibroGen’s China unit for about $160 million to gain rights to its anemia drug in the country, further boosting its presence in the world’s second-biggest economy. The deal comes at a time when the Anglo-Swedish pharma company is facing a string of investigations in the country, AstraZeneca’s biggest international…
Technological dominance was once synonymous with proprietary innovations. But recent history suggests differently: true disruption comes from making technology cheap, accessible and inescapable. China rejects the traditional high-cost, high-margin model of innovation. While foundational artificial intelligence (AI) and biotechnological breakthroughs still largely originate in the United States, China excels at rapidly scaling up and optimising…
Pharmaceutical giant AstraZeneca said Thursday that the head of its China operations had been detained, after reports the firm was under investigation for potentially illegal data collection and drug imports. Leon Wang, president of AstraZeneca China, “has been detained”, a representative of the firm’s global media team said in an email to AFP. “If requested,…
(Reuters) – AstraZeneca shares recorded their biggest one-day drop since March 2020 on Tuesday following a report that dozens of senior executives at its China unit could be implicated in the largest insurance fraud case in the country’s pharma sector in years. The investigation by Chinese authorities has now expanded to include the public security…
Pharmaceutical giant AstraZeneca, whose China president is under investigation, was previously investigated for medical insurance fraud cases involving cancer medication sales, according to new Chinese media reports. The news comes after the British-Swedish company announced on its official website last week that its China chief Leon Wang was cooperating “with an ongoing investigation”, and its…
An investigation of a top China executive from British-Swedish company AstraZeneca – and the lack of transparency surrounding the case – is set to deal another blow to foreign business confidence in the country, according to observers. AstraZeneca, the largest foreign pharmaceutical company in China, said on Wednesday that its China president, Leon Wang, was…
AstraZeneca’s China president is under investigation in mainland China, the drug company said on Wednesday. Leon Wang was described as cooperating “with an ongoing investigation”, the pharmaceutical and biotechnology company said in a statement. “Our China operations continue under the leadership of the current general manager of AstraZeneca China,” the British-Swedish company added. The company…