New ban on pharma investments
1 March 2007
China has banned its drug regulators from owning stock in pharmaceutical companies in order to clean up the scandal-plagued industry, AP reported. Drug companies are accused of bribing regulators and paying off doctors and hospitals to use substandard products. Beijing is investigating a former State Food and Drug Administration director accused of taking bribes to approve drugs that were subsequently blamed in a string of deaths. Authorities have ordered a review of thousands of drug licenses to see whether any were improperly granted.
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