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Tags: AS | China | Vaccine | Scandal

Chinese Company in Vaccine Scandal Declared Bankrupt

Friday, 08 November 2019 02:37 AM

BEIJING (AP) — A Chinese maker of rabies vaccine that was fined 9.1 billion yuan ($1.3 billion) in a product quality scandal that set off a crackdown on the industry said Friday it has been declared bankrupt.

Changchun Changsheng Life Sciences Ltd., which lost its production licenses last year, said in a statement that a court issued the ruling after concluding the company was insolvent and couldn't pay its debts.

Revelations that authorities failed to act immediately after finding the company might have falsified production records led to an outcry among a public already upset over deaths and injuries due to fake or shoddy medicines, milk, toys and other products.

Changsheng Life Sciences used expired materials, mixed different batches of products and failed to test them properly, according to regulators. They said the company destroyed records to conceal its misconduct.

The country's No. 2 leader, Premier Li Keqiang, said the company "violated a moral bottom line."

No injuries were reported but authorities recalled the company's products from China and foreign markets.

Rabies is endemic in parts of China.

© Copyright 2021 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


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A Chinese maker of rabies vaccine that was fined 9.1 billion yuan ($1.3 billion) in a product quality scandal that set off a crackdown on the industry said Friday it has been declared bankrupt.Changchun Changsheng Life Sciences Ltd., which lost its production licenses last...
AS,China,Vaccine,Scandal
177
2019-37-08
Friday, 08 November 2019 02:37 AM
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