July 24, 2018 / 1:50 AM / 5 months ago

China vaccine maker Changsheng plunges again after police launch probe

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)

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