Shares of AstraZeneca (AZN) are lower as more headlines emerge on the scope of the ongoing China probe of the company’s China president, and as the case evolves, dozens of senior executives at AstraZeneca China are now expected to be implicated in an insurance fraud case, representing a headline risk, BMO Capital tells investors in a research note. It’s too early to predict the impact of the ongoing litigation, but AstraZeneca has lost roughly 11% of its value since the headline last week, which BMO says feels overdone. BMO made no change to its Outperform rating or $89 price target
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