Following news of a broadening investigation in China concerning alleged illegal medicine importation and data privacy issues, AstraZeneca PLC (NASDAQ:AZN) extended its losses on Wednesday. Originally started in 2021, the probe involves two former and two present top AstraZeneca executives.

After Shanghai-based financial source Yicai revealed that the probe included several top executives connected to claims of insurance fraud, the shares of the Anglo-Swedish pharmaceutical business dropped drastically Tuesday. According to a business spokesman for Bloomberg, the investigation is still in progress, and 100 former workers have already been convicted of insurance fraud and genetic test tampering accusations.

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Although AstraZeneca stressed that the situations are unique and the business has not been directly questioned, allegations include the illegal import of cancer medications into China through Hong Kong. According to last week's company confirmation, Leon Wang, AstraZeneca's China president, is still under custody in China and is allegedly helping the inquiry.

This article first appeared on GuruFocus.