11:46 AM EST, 11/06/2024 (MT Newswires) -- (Updates with response from AstraZeneca ( AZN ) in the fourth paragraph.)

AstraZeneca ( AZN ) four senior executives in China, including two former employees, are being investigated for alleged violations of Chinese laws on drug importation and data privacy, Bloomberg reported Wednesday, citing the company.

These executives are in addition to the company's China president, who is detained by the authorities, Astrazeneca's ( AZN ) spokesperson told Bloomberg.

The allegations claim illegal import of cancer drugs by bringing the shipments into Hong Kong and then into China, the spokesperson reportedly said.

AstraZeneca ( AZN ) declined to respond to MT Newswires' requests for comment.

Shares of AstraZeneca ( AZN ) were down 2.8% in recent trading.

(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.)

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