AstraZeneca shares fell 8.4 per cent on Tuesday as a corruption purge involving its China chief risked spiralling wider, clouding the outlook in the UK drugmaker’s second-largest market.
On Tuesday, Chinese publication Yicai reported that dozens of executives have been implicated in an investigation of medical insurance fraud.
The report came after AstraZeneca disclosed last week that its China president Leon Wang, a high-profile executive who has overseen a period of strong growth for the company, was co-operating with “an ongoing investigation by Chinese authorities”.
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