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AstraZeneca: China's Investigation into Exec Separate from Medical Insurance Probe

The AstraZeneca logo is pictured outside the AstraZeneca office building in Brussels, Belgium, January 28, 2021. REUTERS/Johanna Geron/File Photo
The AstraZeneca logo is pictured outside the AstraZeneca office building in Brussels, Belgium, January 28, 2021. REUTERS/Johanna Geron/File Photo
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AstraZeneca: China's Investigation into Exec Separate from Medical Insurance Probe

The AstraZeneca logo is pictured outside the AstraZeneca office building in Brussels, Belgium, January 28, 2021. REUTERS/Johanna Geron/File Photo
The AstraZeneca logo is pictured outside the AstraZeneca office building in Brussels, Belgium, January 28, 2021. REUTERS/Johanna Geron/File Photo

AstraZeneca said on Wednesday that to its knowledge an ongoing investigation by Chinese authorities into the company's top executive in the country, Leon Wang, is separate from a large health insurance fraud case also involving the company.

The drugmaker said its Chief Financial Officer Aradhana Sarin had briefed investors on the subject on Wednesday to quell concerns about the fraud probe expanding following a report by financial media company Yicai a day earlier that led its shares to plunge more than 8%.

The Anglo-Swedish drugmaker confirmed on Wednesday that Wang, its China president, was in Chinese custody. One week ago, AstraZeneca said that Wang was under investigation and that the drugmaker would cooperate with authorities, according to Reuters.

AstraZeneca said on Wednesday it did not know what Wang was detained for.

The Yicai report on Tuesday said that dozens of the drugmaker's senior executives in China could be implicated in the largest insurance fraud case in the country's pharma sector in years. But AstraZeneca said on Wednesday that to its knowledge the insurance fraud case did not involve any current AstraZeneca executives.

AstraZeneca has invested heavily in the world's No. 2 pharmaceuticals market.

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Explorer: Sonar Image Was Rock Formation, Not Amelia Earhart Plane

A statue of Amelia Earhart at the US Capitol. Nathan Howard / GETTY IMAGES/AFP
A statue of Amelia Earhart at the US Capitol. Nathan Howard / GETTY IMAGES/AFP
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Explorer: Sonar Image Was Rock Formation, Not Amelia Earhart Plane

A statue of Amelia Earhart at the US Capitol. Nathan Howard / GETTY IMAGES/AFP
A statue of Amelia Earhart at the US Capitol. Nathan Howard / GETTY IMAGES/AFP

A sonar image suspected of showing the remains of the plane of Amelia Earhart, the famed American aviatrix who disappeared over the Pacific in 1937, has turned out to be a rock formation.

Deep Sea Vision (DSV), a South Carolina-based firm, released the blurry image in January captured by an unmanned submersible of what it said may be Earhart's plane on the seafloor.

Not so, the company said in an update on Instagram this month, AFP reported.

"After 11 months the waiting has finally ended and unfortunately our target was not Amelia's Electra 10E (just a natural rock formation)," Deep Sea Vision said.

"As we speak DSV continues to search," it said. "The plot thickens with still no evidence of her disappearance ever found."

The image was taken by DSV during an extensive search in an area of the Pacific to the west of Earhart's planned destination, remote Howland Island.

Earhart went missing while on a pioneering round-the-world flight with navigator Fred Noonan.

Her disappearance is one of the most tantalizing mysteries in aviation lore, fascinating historians for decades and spawning books, movies and theories galore.

The prevailing belief is that Earhart, 39, and Noonan, 44, ran out of fuel and ditched their twin-engine Lockheed Electra in the Pacific near Howland Island while on one of the final legs of their epic journey.

Earhart, who won fame in 1932 as the first woman to fly solo across the Atlantic, took off on May 20, 1937 from Oakland, California, hoping to become the first woman to fly around the world.

She and Noonan vanished on July 2, 1937 after taking off from Lae, Papua New Guinea, on a challenging 2,500-mile (4,000-kilometer) flight to refuel on Howland Island, a speck of a US territory between Australia and Hawaii.

They never made it.