Astellas CEO Rules Out China Exit After Executive’s Arrest: FT

Astellas Pharma Inc. does not plan to withdraw from China following the detention of an employee last month but is looking to diversify its supply chain in the country, the Financial Times cited Chief Executive Officer Naoki Okamura as saying in an interview.

The detained employee, whom Astellas has not identified, was in his 50s and had been in China for more than 20 years, the newspaper cited people with knowledge of the incident as saying. The country accounts for less than 5% of Astellas’s annual revenue but is a key source of raw materials for the company’s drugs, according to the report.