AstraZeneca’s sales in China have been hit by the arrest of its country head, say company insiders, as local hospitals shun purchasing drugs from the company.
Executives at the British pharmaceutical company expect to see an “evident” revenue hit in China in the wake of the arrest of its country president Leon Wang and several other senior executives, according to two people familiar with the matter. Sales of oncology products in particular — at the heart of Chinese authorities’ investigations — have been affected, the insiders said.
AstraZeneca declined to comment on the ongoing investigations, or to what extent they would affect its top line.
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