AstraZeneca denies lack of oversight as investigation into its Chinese arm opens

AstraZeneca's chief executive said yesterday it was taking investigations by Chinese authorities into its business in the country "very seriously" and insisted it was committed to China in the long run.

- Julia Kollewe

Chinese authorities are thought to be investigating the importation of two cancer treatments that are manufactured by Britain's biggest pharmaceutical company.

Pascal Soriot, the AstraZeneca chief executive, said: "We take the matters in China very seriously. If requested, we will fully cooperate with the authorities."

Soriot, Britain's best-paid boss of a FTSE 100 company, who is in line for an £18.7m package this year, denied there had been a lack of oversight by headquarters, but conceded that in a large workforce of more than 16,000 in China "unfortunately some will be tempted" to maximise sales.

AstraZeneca had strengthened its 200-plus compliance team in the country, introducing field-based compliance officers, and used artificial intelligence to scrutinise sales staff's expense reports to identify any misbehaviour, he said.