🐂 Not all bull runs are created equal. November’s AI picks include 5 stocks up +20% eachUnlock Stocks

AstraZeneca China summoned over suspected fraud

Published 01/29/2022, 05:35 AM
Updated 01/29/2022, 07:05 AM
© Reuters. FILE PHOTO: An AstraZeneca sign is seen at the third China International Import Expo (CIIE) in Shanghai, China November 6, 2020. REUTERS/Aly Song
AZN
-

BEIJING (Reuters) -Chinese authorities summoned officials of AstraZeneca (NASDAQ:AZN) China regarding an investigation of suspected medical insurance fraud by the company's employees, the National Healthcare Security Administration (NHSA) said on Saturday.

The regulator of the state medical insurance fund said authorities ordered the arrest of all suspects, but did not give details of the suspected violations or the size of funds involved.

It demanded that AstraZeneca China close loopholes in supervision of marketing activities, the NHSA added.

In a statement on Friday, the company said some employees in the southern city of Shenzhen had altered or participated in altering patients' testing reports, and were suspected of medical insurance fraud.

The NHSA and public security ministry held a meeting with company officials in December to brief them on the investigation, it added.

"AstraZeneca China takes such employee misconduct seriously and welcomes the recommendations by the NHSA and MOPS," it said.

An AstraZeneca spokesperson said all employees involved in the Shenzhen case were Chinese nationals.

© Reuters. FILE PHOTO: An AstraZeneca sign is seen at the third China International Import Expo (CIIE) in Shanghai, China November 6, 2020. REUTERS/Aly Song

The company has taken disciplinary action against those employees and has reported their violations to the authorities, the statement said.

Authorities will launch nationwide campaigns to stamp out fraud that involves altering genetic test results, the NHSA added, urging those responsible for such violations to turn themselves in.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.