BRIEF: BeiGene executive reportedly detained in AstraZeneca investigation

BGNE.US 6160.HK

Yin Min, chief business officer for Greater China at innovative drugmaker BeiGene Ltd. (BGNE.US; 6160.HK; 688235.SH), has been detained as part of an investigation unrelated to the company’s operations, according to a media report citing unnamed sources.

The investigation involves matters that happened during Yin’s tenure as general manager of the tumor business department at AstraZeneca’s (AZN.LON) China branch, according to the report of Jiemian News. Several workers from the department were suspected of tampering with oncology patients’ genetic testing results to defraud the national health insurance fund in August 2021, the report added. A total of 17 people were arrested in the case.

Yin worked at AstraZeneca from 2006 to 2021, holding several key positions, before leaving in December 2021 to join BeiGene. After the news broke, BeiGene’s Hong Kong-listed shares rose 2% to HK$130.9 in early Monday trade.

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