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AstraZeneca insiders expect sales dip in China after arrest of local boss

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AstraZeneca insiders expect sales dip in China after arrest of local boss

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AstraZeneca’s sales in China have been hit by the arrest of its country head, say company insiders, as local hospitals shun purchasing drugs from the company. 

Executives at the British pharmaceutical company expect to see an “evident” revenue hit in China in the wake of the arrest of its country president Leon Wang and several other senior executives, according to two people familiar with the matter. Sales of oncology products in particular — at the heart of Chinese authorities’ investigations — have been affected, the insiders said.

AstraZeneca declined to comment on the ongoing investigations, or to what extent they would affect its top line.

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The detention of China’s most prominent pharmaceutical executive has sent shockwaves through the industry. Wang’s arrest came after scores of senior hospital officials were detained as part of a wider anti-corruption campaign that Beijing says is targeting the egregious costs of medical care. 

Leon Wang

Wang’s arrest represents a dramatic reversal of fortunes for AstraZeneca in China, where it is the largest foreign drugmaker by sales. Wang had been celebrated by state media for his contributions to bolstering the domestic pharmaceutical and biotech sectors through start-up investments and building manufacturing capacity and research facilities. 

It is unclear at this stage how big a sales hit AstraZeneca will take, with the numbers coming in the company’s next financial report. But one executive told the Financial Times: “The sales impact is already very evident.”

AstraZeneca made $5.9bn in sales in China in 2023, 13 per cent of its total. Last month, it increased its full-year guidance for worldwide revenue and earnings growth.

“Doctors are unwilling to interact with our salespeople and prescribe our medicines. They will say our company has had too many issues and will opt for other choices, particularly Chinese-made drugs,” the AstraZeneca executive added. 

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There are early signs that cancer drugs Tagrisso and Imfinzi have been particularly severely affected, they said. The company hopes that Enhertu sales could weather the crisis, according to one of the people familiar with its position, as it is considered the best drug on the market for certain types of breast cancer.

In recent financial reports, AstraZeneca has cited “strong uptake in China” following Enhertu’s commercial launch at the start of the year. Chinese authorities announced in late November — after Wang’s detention — that the drug would be included in the state health insurance scheme. 

AstraZeneca’s China business has boomed under Wang

Wang’s arrest caught AstraZeneca off guard. The UK leadership initially blamed the scandal on low-level employees in China, following news reports that several salespeople had been arrested for illegally importing cancer drug Imjudo.

Chief executive Sir Pascal Soriot, in an interview with Bloomberg News in September, said it only affected a “small number of employees” and that the company has “strong compliance policies”.

But then, in late October, Wang was arrested, as authorities started probing how much senior management knew about alleged wrongdoings about its sales practices.

“At first, Soriot thought it was just a few salespeople gone rogue out of several thousand. But he realised it was more complicated than that when Leon was detained,” said one person close to the chief executive. 

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AstraZeneca leadership has received no formal explanation from Chinese authorities and has not been able to contact Wang, according to people familiar with the matter. The company has concluded that the probe is about Imjudo sales in China — where the drug is not approved — because authorities also detained AstraZeneca’s former head of oncology, Yin Min, who was in charge of the department during the alleged offences. 

“We haven’t received any explanation. We can only guess that it is related to Imjudo because of the other people who have been implicated,” said one person. 

Separately, AstraZeneca has also faced a public relations crisis after scores of salespeople were convicted over the past two years for medical insurance fraud. The courts found that they tampered with genetic test results to ensure lung cancer patients qualify for Tagrisso under a national insurance reimbursement scheme. 

Shares in AstraZeneca are down more than 8 per cent since the company disclosed Wang’s detention in late October.

Emily Field, an analyst at Barclays, said investors were particularly shaken because they had known Wang, who participated in earnings calls. But now she believes there is consensus that there was an overreaction. “No one thinks AstraZeneca is going to get kicked out of China. Maybe they get a fine in the low-to-mid single-digit billions of dollars,” she said.

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Rival FTSE 100 group GSK was fined £297mn by the Chinese authorities in 2014 after a bribery scandal.

AstraZeneca has appointed Iskra Reic to manage the China business through the crisis, who is seen by Pascal as a “troubleshooter”. When she ran Europe for AstraZeneca, she had to deal with a disgruntled EU over vaccine manufacturing problems during the Covid-19 crisis. Soriot sees her as someone he can trust and hopefully a “fresh face” in China, said the person close to the chief executive. 

But company insiders in China have cast doubt on the ability of a foreign executive to navigate the political sensitivities during a period when the company is under such intense scrutiny from authorities. 

Company insiders are concerned about whether it can return to business as usual. One said: “It is very difficult to see a way out of this for AstraZeneca.”

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Satellite images show Iran school strike hit more buildings than earlier reported

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Satellite images show Iran school strike hit more buildings than earlier reported

The bombing of an Iranian elementary school that killed some 165 people, many of them schoolgirls, included more targets near the school than has been initially reported, a review of commercial satellite imagery by NPR has found.

The images suggest that the school was hit on Saturday as part of a precision airstrike on a neighboring Iranian military complex — and that it may have been struck as a result of outdated targeting information.

The new images come from the company Planet and are of the city of Minab, located in southeastern Iran. They show that a health clinic and other buildings near the school were also struck. Three independent experts confirmed NPR’s analysis of the additional strike points.

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The strike points “look like pretty clean detonation centroids,” said Corey Scher, a postdoctoral researcher at the Conflict Ecology laboratory at Oregon State University.

“These certainly appear like detonation sites,” agreed Scher’s colleague, Oregon State associate professor Jamon Van Den Hoek.

Jeffrey Lewis, a professor at Middlebury College who specializes in satellite imagery, said the imagery was consistent with a precision airstrike.

The images show “very precise targeting,” Lewis told NPR. “Almost all the buildings [in the compound] are hit.”

A satellite image of an Iranian Revolutionary Guard compound taken on March 4.

A satellite image of an Iranian Revolutionary Guard compound taken on March 4, several days after an airstrike destroyed a school on the edge of the compound. The image reveals that half a dozen other buildings in addition to the school were struck.

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Iranian state media said 165 people died in the bombing, which struck a girls’ school. The school was located within less than 100 yards of the perimeter of an Iranian Revolutionary Guard naval base, according to satellite images and publicly available information. The clinic was also located within the base perimeter, although both facilities had been walled off from the base.

Israel has denied involvement. “We are not aware at the moment of any IDF operation in that area,” Israel Defense Forces spokesperson Nadav Shoshani told NPR on Monday. “I don’t know who’s responsible for the bombing.”

At a press conference Wednesday morning, U.S. Defense Secretary Pete Hegseth said that the U.S. is looking into what happened at the school. “All I know, all I can say, is that we’re investigating that,” Hegseth said. “We, of course, never target civilian targets.”

Given Minab’s location in the southeastern part of Iran, Lewis believes it’s more likely the U.S. would have conducted the strike than Israel. As one gets farther south and east in Iran, “a strike is much more likely to be a U.S. strike than an Israeli strike because of the type of munitions and the geographic location,” he said.

Esmail Baghaei, the spokesman for Iran’s Foreign Ministry, called the strike “deliberate” and said that the U.S. and Israel bombed the school in part to tie up Iranian forces in the region with rescue efforts. “To call the attack on the girls school merely a ‘war crime’ does not capture the sheer evil and depravity of such a crime,” he said.

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But Lewis said it’s more likely that the strike was the result of an error. Satellite images show that the school and clinic buildings were both once part of the base. The school was separated from the base by a wall between 2013 and 2016. The clinic was walled off between 2022 and 2024.

Lewis believes it’s possible American military planners had not updated their target sets.

“There are thousands of targets across Iran, and so there will be teams in the United States and Israel that are responsible for tracking those targets and updating them,” he said. “It’s possible that the target didn’t get updated.”

The Pentagon did not immediately respond to NPR’s request for additional information about the strike.

NPR’s Arezou Rezvani and NPR’s RAD team contributed to this report.

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Mojtaba Khamenei, son of former supreme leader, tipped to become Iran’s next head of state

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Mojtaba Khamenei, son of former supreme leader, tipped to become Iran’s next head of state

Mojtaba Khamenei, the second son of the assassinated Ali Khamenei, is being heavily tipped to succeed his father as supreme leader of Iran, which would pitch a hardliner into the task of steering the Islamic republic through the most turbulent period in its 48-year history and offer a powerful signal that, for now, it has no intention of changing course.

No official confirmation has been given and the announcement may be delayed until after the funeral of Ali Khamenei, which was on Wednesday postponed.

His son is believed to have been the choice of the Islamic Revolutionary Guard Corps (IRGC), and the Israeli defence minister, Gideon Saar, has warned he will be assassinated.

Ayatollah Seyed Khatani, a member of the Assembly of Experts, the body that chooses the new supreme leader, said the assembly was close to selecting a leader.

Rigid in his anti-western views, Mojtaba Khamenei is not the candidate Donald Trump would have wanted. Marco Rubio, the US secretary of state, said on Tuesday that Iran was run by “religious fanatic lunatics” – and Khamenei’s appointment is hardly likely to dispel that opinion.

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‘They were going to attack first’: Trump gives update on Iran – video

The choice of supreme leader is made by the 88-strong Assembly of Experts, who in this case are picking from a field of six possible candidates. His election would be a powerful if unsurprising symbol that the government is not looking to find an accommodation with America.

Trump has said the worst-case scenario would be if Khamenei’s successor was “as bad as the previous person”.

There has been speculation for more than a decade that he would be his father’s successor, which grew when Ebrahim Raisi, the elected president and favourite of Khamenei, was killed in a helicopter crash.

Mojtaba Khamenei was born in 1969 and studied theology after graduating from high school. At the age of 17, he went to serve in the Iran-Iraq war, but it was not until the late 1990s that he came to be recognised as a public figure in his own right.

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After the landslide defeat of Khamenei’s preferred candidate, Ali Akbar Nategh Nuri, in the 1997 presidential election, where he won only 25% of the final vote, various conservative Iranian groups realised the need to make changes to their structures and Mojtaba Khamenei was central to that project.

He was also seen as instrumental by reformists in suppressing the protests in 2009 that came after allegations the presidential election had been rigged, with his name chanted in the streets as one of those responsible. Mostafa Tajzadeh, a senior member of Iran’s reformist parties who was imprisoned after the vote, alleged that his and his wife, Fakhr al-Sadat Mohtashamipour’s, legal case was under the direct supervision of Mojtaba Khamenei.

In 2022 he was given the title of ayatollah – essential to his promotion. By then he was a regular figure by his father’s side at political meetings, as well as playing an influential role in the Islamic Republic’s Broadcasting Corporation, the government’s official media outlet often criticised for churning out dull political propaganda that many Iranians reject in favour of overseas satellite channels. He has also played a central role in the administration of his father’s substantial financial empire.

His closest political allies are Ahmad Vahidi, the newly appointed IRGC commander; Hossein Taeb, a former head of the IRGC’s intelligence organisation; and Mohammad Bagher Ghalibaf, the current speaker of the parliament.

His rumoured appointment and its hereditary nature has long been resisted by reformists. The former prime minister Mir Hossein Mousavi, referring to the long history of rumours about Mojtaba Khamenei succeeding his father as leader, wrote in 2022: “News of this conspiracy have been heard for 13 years. If they are not truly pursuing it, why don’t they deny such an intention once and for all?”

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The Assembly of Experts, in response, denounced “meaninglessness of doubts” and said the assembly would select only “the most qualified and the most suitable”.

Israel on Tuesday struck the building in the Iranian city of Qom, one of Shia Islam’s main seats of power, where the assembly was scheduled, but the building was empty, according to IRGC-affiliated media.

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Video: Senators Question Kristi Noem on ICE Immigration Tactics

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Video: Senators Question Kristi Noem on ICE Immigration Tactics

new video loaded: Senators Question Kristi Noem on ICE Immigration Tactics

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Senators Question Kristi Noem on ICE Immigration Tactics

Homeland Security Secretary Kristi Noem repeatedly refused to apologize for suggesting that Alex Pretti and Renee Good, two U.S. citizens shot and killed by agents, were domestic terrorists.

What we’ve seen is a disaster under your leadership, Ms. Noem. A disaster. What we’ve seen is innocent people getting detained that turn out are American citizens. I could talk about the culture that’s been created here. After the killings of Renee Good and Alex Pretti, when I spoke to Alex’s parents, they told me that you calling him a domestic terrorist — this was directly from them — the day after he was killed, a nurse in our V.A., Alex — one of the most hurtful things they could ever imagine was said by you about their son. Do you have anything you want to say to Alex Pretti’s parents? Ma’am, I did not call him a domestic terrorist. I said It appeared to be an incident of — I think the parents saw it for what it was. In a hearing — recent hearing before the HSGAC committee, C.B.P. and ICE officials testified under oath that their agencies did not inform you that Pretti was a domestic terrorist — during that hearing, stated during that hearing, I was getting reports from the ground, from agents at the scene, and I would say that it was a chaotic scene. How did you think that calling them domestic terrorists at that scene was somehow going to calm the situation? The fact that you can’t admit to a mistake, which looks like under investigation, it’s going to prove that Ms. Good and Mr. Pretti probably should not have been shot in the face and in the back. Law enforcement needs to learn from that. You don’t protect them by not looking after the facts.

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Homeland Security Secretary Kristi Noem repeatedly refused to apologize for suggesting that Alex Pretti and Renee Good, two U.S. citizens shot and killed by agents, were domestic terrorists.

By Christina Kelso and Jackeline Luna

March 3, 2026

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