ARTICLE | Finance
AZ sales reps now free of ‘temptations’ as China’s leading MNC beefs up compliance
By Jeff Cranmer, Executive Editor
November 16, 2024 1:40 AM UTC
Pascal Soriot reaffirmed AstraZeneca’s long-term commitment this week to discovering, developing and marketing drugs in China, a market that has long been a priority for the CEO. The pledge, which he made on the pharma’s 3Q24 earnings call with analysts, comes amid investigations into the MNC’s China President Leon Wang and AZ staffers current and past that have led investors to cut roughly $30 billion off the company’s valuation.
Few new details about the allegations of medical insurance fraud and illegal drug importation against individuals currently or previously affiliated with AstraZeneca plc (LSE:AZN; NASDAQ:AZN) emerged on Tuesday’s call, but Soriot’s answers to analysts’ questions added color to what’s been reported on the probes and how the company has responded. …
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- Source: https://www.biocentury.com/article/654177/soriot-reaffirms-china-commitment