British drugmaker AstraZeneca has appointed Iskra Reic as the new head of its operations in China, replacing former executive Leon Wang who is currently on extended leave while under investigation by Chinese authorities. Reic, who played a key role in overseeing the development of the company's Covid vaccine, will be relocating to Shanghai to take up her new responsibilities.
Investors have been closely monitoring AstraZeneca since Wang's situation came to light in October, drawing comparisons to a major bribery scandal involving another British pharmaceutical company, GlaxoSmithKline, a decade ago. AstraZeneca, the most valuable company on the FTSE 100 index, has confirmed that Wang is cooperating with the ongoing investigation but has provided no further details on the case.
