AstraZeneca Shares Slide As Execs in China Face Fraud Investigation

Company News - AstraZeneca shares declined Tuesday after reports that senior executives in China were potentially implicated in an insurance fraud case [1] - AstraZeneca China President Leon Wang is cooperating with Chinese authorities [1] - In September, five current and former AstraZeneca employees were detained by police in China in connection with multiple investigations [1] - Dozens of the company's senior executives in China potentially have been implicated in an insurance fraud case [2] - The company stated that if requested, it will fully cooperate with the Chinese authorities [2] - Five current and former AstraZeneca employees were detained by police in China in September in connection with alleged violations of data privacy laws and for importing an unapproved cancer drug [3] - AstraZeneca employs roughly 16,000 workers in China and has operated there since 1993 [3] Stock Performance - U S -listed shares of AstraZeneca fell more than 7% Tuesday to close at $66 27 [3] - The shares are down 1 6% in 2024 [3]