On October 25, Yin Min, Chief Commercial Officer of BeiGene (NASDAQ: BGNE) Greater China, was taken into custody by regulatory authorities for cooperation with an ongoing investigation. Yin Min joined BeiGene in January 2022 after spending 15 years at AstraZeneca (AZ, NASDAQ: AZN), where she held several key positions, including European Strategic Project Leader, Greater China Compliance Officer, Vice President of Business and Channels, and General Manager of both Hong Kong and Macau, as well as the Oncology Division in China.
In a statement on its official WeChat account regarding Yin Min’s investigation, BeiGene asserted, “The incident involving the employee is unrelated to BeiGene. The company remains committed to operating with legality, compliance, and high ethical standards.” Reports suggest that several other executives were also taken into custody, including Xie Qiong, Vice President of AstraZeneca China.
On the same day, Shanghai Rightongene Biotechnology Co., Ltd (SHA: 688217) disclosed that its core management, including actual controllers and executives Xiong Hui, Xiong Jun, Xue Yuwei, and He Junyan, were detained by public security agencies in July on suspicions of illegal business activities, with charges recently upgraded to fraud.
Bloomberg reported in July that several AstraZeneca employees were detained in connection with data privacy violations and the importation of unauthorized drugs. The detention of Rightongene Bio executives, AstraZeneca’s largest supplier of EGFR testing kits, may also be related to this ongoing situation. Additionally, Shi Yuanjie, Market Executive Director of AstraZeneca’s Lung Cancer Division, was under investigation at that time, alongside former AstraZeneca Vice President Zhu Jiakang, who was also taken in for questioning.- Flcube.com
