Looking like China related
RNS from the Company just out
05 November 2024
AZN share price movement
As a matter of policy, we do not comment on speculative media reports including those related to ongoing investigations in China.
If requested, we will fully cooperate with the Chinese authorities.
We continue to deliver our life changing medicines to patients in China and our operations are ongoing. |
Looks like the end of a near 12 month head and shoulders pattern to me… |
Alphorn, its to do with the cancer drug. Massive fraud implied.
Report out now, was leaked by Yical late morning.
Dozens of execs could be implicated.
I was actually following AZN at broker late morning when it started the downward trend which was about 1100.
Neg trades were flying in, I was a wee bit slow on the sell button but managed
short at 10819. Yet to close.
cheers |
Trials would not have been underwritten. They are not normally a risk area claim-wise. |
Three thing at once:
Insurance Fraud
Weight Loss drug
Covid trial case in America
and a downgrade from Deutsche Bank. |
Agree. Wasn't Covid underwritten by the government, so can't be that. Maybe their slim pill hasn't gone down too well, but thats not really been a major factor. My guess is, even though Astra has invested huge amounts into China, they're known to happily fine any foreign company massively, and I think that has done the damage here.On that 'guess', I'm in for more, can't believe the price, but as always do your own. |
Very odd to have a legal issue with a clinical trial due to the paperwork signed off. |
South China Morning Post ,4 NovPharmaceutical giant AstraZeneca, whose China president is under investigation, was previously investigated for medical insurance fraud cases involving cancer medication sales, according to new Chinese media reports.The news comes after the British-Swedish company announced on its official website last week that its China chief Leon Wang was cooperating "with an ongoing investigation", and its operations in the country would continue under the leadership of AstraZeneca China's general manager.Media outlet Caixin reported on Monday that an official investigation, first made public in early 2022, targeted sales representatives for AstraZeneca's lung cancer medication Tagrisso in the southern city of Shenzhen. |
Is this a good entry point, seems oversold |
hxxps://www.scmp.com/news/china/politics/article/3285128/report-finds-china-targeted-astrazeneca-fraud-probe-over-cancer-treatment |
Phil,
I checked current press releases, the drug trial you mentioned is ongoing to phase 2.
Unable to find bad press, but noticed the drop trend so jumped in hoping to regain my
105pt loss! Staying short until reason is explained.
PS: Generally a big fan and held for years, closed awhile ago around 10k mark.
Year low is 9461. |
Dd , well done on that ,this has been a waste of time for 2024, -8% so far.
Chart support pointing at that 9500p then somewhere near 8500p |
G'day,
Re: The slim pill, I doubt that is the reason for drop.
Maybe the Covid issue, USA & UK?
Managed to regain previous loss with short (10819).
12 month low 9461.
Barclays & GS buy this am. Whoops |
Stories on insurance fraud to drive sales by Chinese employees - you can find them on Google |
Definitely this... downgraded to 'sell' by Deutsche
AstraZeneca shares fall 3.43% premarket after mixed news on weight loss pill.
Astrazeneca Plc fell 3.43% in premarket trading, following a downgrade from Deutsche Bank to a 'sell' rating. The news was accompanied by a lack of positive developments or announcements from the company, contributing to the decline in share price.
ainvest.com |
this from USA...
Markets Today
@marketsday
·
1h
AstraZeneca shares fall 3.43% premarket after mixed news on weight loss pill. |
Something about a lawsuit in Utah re : the Covid vaccineCan't find a link to an article but if you do a search on Twitter for Astrazeneca and Utah you will find details of the article. |
This was yesterday so I would have thought if it was material to the shareprice it would have hit at the market open today ...
NZ and the MRNA
@HopeRising19
USA COURT DENIES ASTRAZENECA APPLICATION TO DISMISS VAX INJURY CASE AGAINST THEM...
This is a "flood gate" moment
Brianne Dressen was seriously injured when she was a trail participant in Astra Zeneca Covid vaccine trial.
She is now trying to sue Astra Zeneca for breech of contract.
AZ abandoned her when she sustained permanent injuries.
They offered her $1200 in total as full and final compensation.
Astra Zeneca applied to the court for the motion against them to be dismissed.
THE COURT HAS DENIED THEIR APPLICATION AND THE TRIAL WILL PROCEED |
I'm surprised there's no details on the investigation into AZN China President Leon Wang |
Astra is presenting on their obesity strategy this morning at 10am US eastern time |
Sit on hands for now, will research over the weekend.
All getting rather sticky?
cheers |
This issue is quite strange - what was this data? Remembering that if clinical trial data it is presented in the approval process from many sites around the globe.
There must be more to come. |
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