Chinese company in vaccine scandal declared bankrupt | KOB 4
Advertisement

Chinese company in vaccine scandal declared bankrupt


Updated: November 08, 2019 12:21 AM
Created: November 08, 2019 12:12 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.

Advertisement

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 2019 by The Associated Press. All Rights Reserved.)

Comment on Facebook
Advertisement

Advertisement

Advertisement


District court judge orders BCSO to comply with public records request

Charges dropped against teacher assistant accused of molesting students

Foster families struggle to get reimbursed by CYFD

Lawmakers start preliminary talks with NM United officials about new stadium

Business owners desperate to identify arsonists