AstraZeneca China president under investigation

Drugmaker AstraZeneca revealed on Wednesday that Leon Wang, the president of AstraZeneca China, was under investigation by Chinese authorities.

AstraZeneca, which did not disclose whether or not Wang was currently in police custody, said he was "cooperating with an ongoing investigation".

The FTSE 100-listed group added that its China operations continued under the leadership of the current general manager of AstraZeneca China.

"If requested, AstraZeneca will fully cooperate with the investigation," added the group.

As of 1440 GMT, AstraZeneca shares were down 4.47% at 11,018.0p.

Reporting by Iain Gilbert at Sharecast.com