Pharmaceutical stocks seek a cure while a massive vaccine scandal strikes China



[ad_1]

A vaccine scandal in China, which hit the nerve in the country and prompted quick reactions from Beijing's leaders, circulates the national drug market, while threatening to undermine Chinese ambitions. [19659002Chinamanufacturers'salesofvaccinesandbiotechnologieshavebeenpostponedafterthefirstministerLiChiangiwrotetoChangshengBiotechnologytohaveclearedaredlineandcalleditaquickaction

The case broke out a week ago.

Although there was no apparent report of people having been injured by the vaccine or having contracted rabies after receiving the vaccine, the regulator has already ordered Changsheng to stop his production and recall all his vaccines.

The case has become viral in China, where the sensitivity to food and drug safety is extremely high after a series of scandals over the last decade. Shares of Changsheng, which have lost 40% since mid-July, were suspended Monday.

The scandal sparked anger on social media and dealt a blow to the Chinese drug regulator, who struggled to clean up the second C – is also a setback for the country as it seeks to play a bigger global role in the production and export of vaccines and other drugs.

In a statement released last Sunday, Premier Li called for an immediate investigation and called for a severe penalty for companies and those involved. "We will resolutely repress illegal and criminal acts that endanger people's lives, punish violators in accordance with the law, and severely and severely criticize the breach of duty in the surveillance," he added. He said in a statement that his investigation had revealed that Changsheng was producing production records and product inspection records, and that it was arbitrarily changing the parameters and equipment of the process, in " serious violations "of the law. 1965-19002] PUBLIC HEALTH CRISIS

Changsheng stated in a regulatory file that the suspension of its production of rabies vaccines would have a significant impact on its finances and that some regional disease control agencies had suspended some of his other vaccines

An editorial released Monday in the China Daily warned that the case could become a public health crisis if it was not treated "within a reasonable time". in a transparent way. "

" Government must act as soon as possible to let the public know that it is resolved to tackle the problem and punish all the ruthless criminals " , he said

.The official Xinhua News Agency has issued an editorial calling for harsh penalties for all violations, large or small, in the vaccine industry and for regulators to fill loopholes and reinforce industry surveillance

. "

" Cases like Changsheng Biotechnology, where laws and regulations are ignored and internal controls exist only in name, bring a price painful, "he said, said Changsheng made a public apology and recalled all their rabies vaccines available on the market.

[ad_2]
Source link