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Market Chatter: AstraZeneca 'Working Very Closely' With Chinese Authorities on Probe, CEO Tells Bloomberg
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Market Chatter: AstraZeneca 'Working Very Closely' With Chinese Authorities on Probe, CEO Tells Bloomberg
Sep 11, 2024 12:39 AM

02:09 PM EDT, 09/10/2024 (MT Newswires) -- AstraZeneca ( AZN ) is "working very closely" with Chinese authorities probing the company's employees for possible violations, Chief Executive Pascal Soriot told Bloomberg, according to a Tuesday report.

Authorities are investigating whether the company's collection of patient data violated data privacy laws, according to the report. They are also probing the involvement of some AstraZeneca ( AZN ) employees in the import of a liver cancer drug not approved for distribution in mainland China, the report said.

There have have been eight or nine arrests of the drugmaker's employees so far and the company is coordinating with Chinese authorities on the matter, Soriot said.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 81.11, Change: +0.22, Percent Change: +0.27

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