Chinese pharmacists fined $1.3 billion for a fake vaccine

Chinese pharmacists fined $1.3 billion for a fake vaccine

The regulator also imposed a ban on working in the pharmaceutical sector for 14 managers.

Managing quality control of products and medicines of China recovered to $1.32 billion from divisions of the company Changsheng Biotechnology caught in the center of the scandal surrounding it was developing vaccines.

In July of this year revealed that the company had faked the data about the rabies vaccine, and released a number of vaccines which did not meet the standards. As a result, in addition to monetary penalties, the regulator has imposed a ban on working in the pharmaceutical sector for 14 managers in its subsidiaries – Changchun Changsheng Life Sciences.

As for the vaccines, the authorities revoked the licenses for all products, the manufacture of which irregularities were detected.

Penalty was imposed on herself Changsheng Biotechnology: she was fined by the regulatory Commission China securities 600 thousand yuan ($87 million), and four of its managers were fined and personally received a lifetime ban on operations with securities for violation of the law on provision of information.

18.10.2018

http://micetimes.asia/

October 19, 2018 / Pharma News