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AstraZeneca Faces Investigation in China Over Insurance Fraud Involving Tagrisso and Leon Wang
Nov 5, 2024, 10:00 AM
AstraZeneca is under investigation in China, with high-ranking executive Leon Wang and other personnel being scrutinized by authorities. The investigation stems from allegations that AstraZeneca China's sales team falsified genetic test results to ensure state-backed insurance would cover the company's lung cancer drug, Tagrisso. This insurance fraud has reportedly involved dozens of senior executives within the company and has led to prosecutions, as reported by Caixin Global. AstraZeneca's Chinese market, which accounts for approximately 13% of its $5.8 billion in revenue, is now facing significant challenges due to these allegations. Wang Lei, the executive vice president overseeing AstraZeneca’s operations in China, is cooperating with the authorities, though the details of the investigation remain unclear.
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