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Key Points
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Five current and former AstraZeneca employees have reportedly been arrested in China in connection with two investigations.
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The investigations relate to the import of an unapproved liver cancer drug and alleged breaches of data protection laws.
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According to a report by Bloomberg, the employees working in AstraZeneca’s oncology department are Chinese citizens.
Five current and former AstraZeneca companies (AZN) employees have been detained by police in China over alleged violations of data protection laws and for importing an unapproved cancer drug, a Bloomberg report.
The report said that five current and former employees of the British pharmaceutical giant’s oncology division have been detained. All are Chinese citizens.
Two AstraZeneca trials underway in China
The current and former employees are reportedly being investigated in connection with two investigations. The first involves the collection of patient data and possible violations of China‘s data protection laws. The second concerns the alleged importation of a liver cancer treatment that is not approved for distribution in the country.
AstraZeneca The company reportedly has about 16,000 employees in China and has been operating there since 1993.
The company’s shares fell more than 3% on Thursday afternoon.
Read the original article at Investopedia.