Chinese authorities have detained five current and former employees of pharmaceutical giant AstraZeneca for questioning over potential illegal activities, as reported by Bloomberg News.In a response statement, AstraZeneca noted, “We are aware that a small number of our employees in China are under investigation, but we have no further information to share at this time.”The detained individuals, all Chinese citizens, worked in AstraZeneca’s oncology division, which focuses on marketing cancer drugs, according to Bloomberg.One investigation reportedly centers on AstraZeneca’s collection of patient data and potential violations of China’s data privacy laws. Additionally, authorities are examining the alleged involvement of some individuals in the importation of the liver cancer drug Imjudo, which had yet to receive approval for distribution in China.This incident unfolds amidst a larger anti-corruption campaign by the Chinese government, which has intensified over the past year. The campaign seeks to reduce kickbacks and misuse of public funds within the pharmaceutical and healthcare sectors.AstraZeneca employs approximately 16,000 people in China, a key market accounting for 13% of the company’s revenue—roughly $6 billion out of a total $44 billion.The material has been provided by InstaForex Company – www.instaforex.com
- Zealand Pharma Announces Positive Topline Data From Phase 1b Trial Of Dapiglutide - September 9, 2024
- Atlanta Fed GDPNow Estimate Rises to 2.5% in Q3 2024 - September 9, 2024
- Edgio Files For Bankruptcy, Stock Tanks 77% - September 9, 2024
