AstraZeneca Faces Turmoil Amid Chinese Investigations

The pharmaceutical giant grapples with probes into drug importation and insurance fraud, impacting its market value and operations in China.

• AstraZeneca's China president, Leon Wang, has been detained as part of an investigation into alleged illegal importation of cancer drugs.
• About 100 former employees have been sentenced for falsifying test results to qualify patients for insurance coverage of AstraZeneca's drug, Tagrisso.
• The company's share price has dropped significantly, losing its position as the most valuable company on the FTSE 100 to Shell.
• Despite the turmoil, AstraZeneca has raised its full-year sales outlook due to strong demand for its cancer and rare disease drugs.
• AstraZeneca plans a $3.5 billion investment in its U.S. operations, aiming to expand research and manufacturing capabilities.

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