AstraZeneca appoints new China boss after arresting a manager

AstraZeneca appoints new China boss after arresting a manager

The British pharmaceutical company Astrazeneca has appointed a new managing director of China, which takes over the position by a former leading employee who is held by the authorities in the country.

new head in China

Iskra Reic, which previously supervised the development of the company's Covid 19 vaccine, will follow Leon Wang. Wang is currently on an extended vacation while being examined in China how the company in a opened announced on Wednesday.

investors are concerned about

Investors have been concerned about AstraZeneca since the announcement of Wang's status in October. For many, this incident arouses memories of a far -reaching bribery scandal that affected the British competitor Glaxosmithkline. The company was occupied ten years ago in China with a record penalty of $ 489 million.

experience in the industry

Reic, an experienced employee of Astrazeneca, will move to Shanghai, according to Reuters, to take on her new, expanded role. Before that, it will continue to lead the unit for vaccines and immunotherapies.

astrazeneca on the stock market parquet

The pharmaceutical is the most valuable company in the FTSE 100, the index of the 100 largest companies listed on the London stock exchange.

Details for the ongoing examination

Astrazeneca said in October that Wang "cooperated with an ongoing examination" and later confirmed that he was held. The company stated that there was no further information about the case.

other cases of missing managers

astrazeneca is not the only company whose managers have disappeared into the Chinese judicial system. Bao Fan, a renowned investment banker, was reported in February 2023 as part of a comprehensive anti-corruption campaign. To date, there are no official charges or accusations against him.

Investigations into insurance fraud

according to yicai , a state -owned Chinese media, become wang and other employees of astrazeca, which are widespread for their widespread Cancer medications are known to investigate the Chinese authorities for alleged violations of the laws on the insurance fraud.

reactions of the company

Last month, the CFO of Astrazeneca, Aradhana Sarin, explained in a conversation with investors that the company is informed of ongoing investigations in the field of medical insurance frauds. These investigations have already led to the condemnation of around 100 former employees, and there is also another study regarding the illegal import of cancer medication according to mainland china.