China Vaccine Maker Changsheng Loses on Market Due to Probe Launched by Police


China Vaccine Maker Changsheng Loses on Market Due to Probe Launched by Police

Changsheng Biotechnology Co Ltd, the Chinese vaccine maker who was accused of falsifying data, went deeper into crisis on Tuesday, plunging its daily limit of 10% in the early trade of the day, while the police are investigating the company.

The police have launched a probe into illegal behavior

Changsheng was accused of constructing production and inspection records by China’s drug regulator. The records are connected with a rabies vaccine that is constantly given to infants and the whole situation has given rise to a public outrage. So far, no cases of people being harmed by the vaccine have been reported. Nevertheless, Changsheng was ordered by the Chinese regulators to stop the production and recall the product.

Changsheng is under investigation

The firm seems to have apologized on Monday, in a regulatory filing. It is known by now that the firm also sold 252,600 doses of ineffective DPT vaccines to inoculate children against whooping cough, tetanus and diphtheria.

Numerous authorities in China are investigating Changsheng at the moment, amongst which are the country’s top graft watchdog and the securities regulator. It appears that on Tuesday, an investigation was started by The Central Commission for Discipline Inspection (CCDI), who is looking into possible corruption at the company.

Chinese citizens are extremely furious about this situation

There is no surprise that numerous Chinese citizens have started expressing their fury online. According to an editorial that was posted on Monday by the Global Times newspaper, which is run by the state, the entire case has created a “tsunami” on the internet. Because of this scandal, there have been speculations that mainland Chinese might start taking their children outside mainland China in order to vaccinate them. After all, this has happened before, during former scandals. This, in turn, could lead to a shortage in regions such as Macau and Hong Kong.


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