In breaking news on November 15, 2024, the detention of AstraZeneca’s China CEO, Wang Lei, has sent shockwaves through the industry. AstraZeneca’s operations in China, including its subsidiary AstraZeneca Pharmaceuticals Co., have seen significant changes in leadership and corporate structure. The global CEO of AstraZeneca has responded, stating that the information available regarding the case is very limited.
Wang Lei has led AstraZeneca in China for a decade, with the region’s revenue ranking highest among multinational pharmaceutical companies. Notably, he broke records by becoming the highest-ranking Chinese individual in a multinational pharmaceutical company. Public information indicates Wang Lei’s close interactions with officials in Wuxi, Jiangsu, and Shanghai, as well as the Shanghai gang in the pharmaceutical and healthcare system.
On November 12, 2024, AstraZeneca’s global CEO, Pascal Soriot, publicly addressed the detention of Wang Lei, stating that Wang Lei is in discussion with his lawyers and the company has limited information about the case. The company emphasized the importance of the Chinese market and measures being taken to strengthen compliance.
On October 30, AstraZeneca’s official website disclosed that Wang Lei, the global executive vice president, head of international business, and China CEO, was cooperating with an investigation. AstraZeneca headquarters announced on November 6 that its China CEO Wang Lei had been detained for alleged involvement in illegal drug importation and data issues.
Reports from financial industry insiders indicated that following the announcement of Wang Lei’s investigation, AstraZeneca sent senior executives to China to address related issues, although specific negotiation details remain undisclosed.
Wang Lei, despite not coming from a medical background, has made significant contributions to AstraZeneca during his tenure. After joining the company in 2013, he led the rapid growth of the Chinese market, saving AstraZeneca from a period of decline.
In a notable moment in 2017, Wang Lei was promoted twice within a year, reaching the position of global executive vice president, head of international business, and China CEO, overseeing AstraZeneca’s operations in the Asia-Pacific region, Middle East, Russia, Africa, Central and South America.
Under Wang Lei’s leadership, AstraZeneca in China achieved rapid expansion and deep market penetration, with a focus on localization strategies that set the company apart in the industry.
The changes at AstraZeneca Pharmaceuticals Co., one of AstraZeneca’s key operating entities in China, have attracted attention. Legal records show significant alterations, including a change in leadership from Wang Lei to MAQDOSI EWA, a shift in the company’s registration type, and changes in ownership structure.
AstraZeneca Pharmaceuticals Co., established in 1993 through a merger of Sweden’s Astra AB and the UK’s Zeneca Group PLC, operates as a major biopharmaceutical enterprise jointly owned by Sweden and the UK, with its global headquarters in Cambridge, England.
AstraZeneca’s operations in China, rooted in Wuxi since 1993, have evolved into a strategic hub encompassing research, production, supply, and eco-innovations over the past three decades. The company’s investments in Wuxi have culminated in a vital production supply base, serving nearly 70 countries worldwide.
Of note, Wang Lei, AstraZeneca’s global executive vice president, head of international business, and China CEO, hails from Yixing City in Wuxi, Jiangsu Province, known to be the hometown of former Chinese Communist Party leader Jiang Zemin and the disgraced former Politburo Standing Committee member and Political and Legal Affairs Commission Secretary Zhou Yongkang.
Wang Lei is also a member of the 12th Jiangsu Provincial Political Consultative Conference, a representative of the 16th Wuxi People’s Congress, and the chairman of the Wuxi New Federation. His close ties to the officialdom in Jiangsu and Wuxi, as well as connections to the Shanghai gang linked to Jiang Zemin’s group, have been widely reported.
Over the years, Wang Lei has been actively involved in various collaborations and initiatives with government officials and organizations in Jiangsu, Wuxi, and Shanghai, maintaining deep connections in the region.
In light of recent developments in China’s healthcare and pharmaceutical sectors, AstraZeneca’s relationship with the authorities and the subsequent investigations involving high-ranking executives like Wang Lei reflect the ongoing efforts to cleanse the system of corruption and malpractice, signaling a broader trend of regulatory scrutiny in the industry.