AstraZeneca shares recorded their biggest one-day drop since March 2020 on Tuesday following a report that dozens of senior executives at its China unit could be implicated in the largest insurance fraud case in the country's pharma sector in years.

The pharmaceutical giant, whose China chief is now under investigation, was previously at the centre of insurance scam cases, report says.

AstraZeneca’s stock price dropped by 8.4% during Tuesday’s trading in London after a report fueled fears of a potentially escalating insurance fraud investigation in China. | AstraZeneca’s stock price dropped by 8.

Shares of AstraZeneca dropped more than 7% yesterday after the Chinese publication Yicai Global reported that dozens of senior executives in the company's China subsidiary have been implicated in an insurance fraud case.