AstraZeneca faces potential fines in China over import taxes Drugmaker AstraZeneca has warned it could face a fine in China over possible unpaid import taxes, as it revealed strong sales of cancer drugs helped drive revenues higher.
AstraZeneca said authorities in Shenzhen have said the unpaid taxes amount to 0.9 million dollars (£0.7 million) and that it could face a fine “of between one and five times the amount of unpaid importation taxes” if found liable.
“This year marks the beginning of an unprecedented, catalyst-rich period for our company, an important step on our Ambition 2030 journey to deliver 80 billion dollars (£64.1 billion) total revenue by the end of the decade.
AstraZeneca appointed a new president for its China business late last year after previous executive Leon Wang was arrested by Chinese authorities along with other employees.
The Cambridge-based firm revealed that total revenues increased by 18% to 54.1 billion dollars (£43.3 billion) in 2024, compared with the previous year.
