SHANGHAI, July 24 (Reuters) – Chinese vaccine maker
Changsheng Biotechnology plunged by its daily limit
of 10 percent in early Tuesday trade, after police launched a
probe into illegal behaviour by the firm and China’s President
Xi Jinping called for swift action.
China’s drug regulator has accused Changsheng of fabricating
production records as well as product inspection records related
to a rabies vaccine given routinely to infants, sparking a
furious online reaction in China.
Changsheng apologised in a regulatory filing on Monday.
Its Shenzhen-listed shares have now lost over half their
value since the middle of July in a scandal that has rippled
through the wider market and which dragged down healthcare
stocks across the board on Monday.
(Reporting by Adam Jourdan; Editing by Edwina Gibbs)