AstraZeneca States Commitment to Cooperation with Chinese Authorities
Longtime China President Leon Wang’s Role Comes Under Scrutiny
AstraZeneca Highlights Continued Focus on Patients Amid Investigation
Tue Nov 05 18:15:59 -0000 2024 UTC– AstraZeneca’s share price dropped almost 10% in the last five days as its China. Now, the company addressed media reports on ongoing investigations in China in a brief statement.
AstraZeneca has confirmed that Leon Wang, its President in China, is under investigation by Chinese authorities, several media reported. The company issued a statement on November 5, 2024, affirming its policy of non-engagement with speculative media but assured that it would fully cooperate if Chinese authorities requested support.
The pharmaceutical giant has operated in China since 1993, where it provides treatment options across a broad spectrum of medical needs, including oncology, cardiovascular, respiratory, and rare diseases. “Since entering China in 1993, AstraZeneca has focused on the utmost needs of Chinese patients,” the company said, noting it has introduced over 40 innovative medicines to the Chinese market.
AstraZeneca’s Commitment to China
Despite the current investigation, AstraZeneca emphasized its ongoing operations and continued dedication to its mission. The company operates major R&D and manufacturing centers across China, with facilities in Shanghai, Wuxi, Taizhou, and Qingdao supplying medicines to over 70 global markets. It has also fostered partnerships through the China Commercial Innovation Center and the International Life Science Innovation Campus to support regional economic and healthcare advancements.
Impact and Next Steps
The investigation comes as AstraZeneca maintains its position as one of China’s top multinational employers, with extensive programs for local talent development. AstraZeneca reiterated its commitment to its employees’ well-being and to its core mission of delivering life-changing medicines.
The company concluded by reiterating its stance: “We continue to deliver our life-changing medicines to patients in China and our operations are ongoing.”
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