Changsheng faked vaccine data for years — China's largest fine and a collapsed company

Changsheng Bio-Technology, a Chinese vaccine maker founded in 1992, was found in July 2018 to have falsified production data for its rabies vaccine and produced ineffective DPT vaccines for infants. The company was a publicly listed firm on the Shenzhen Stock Exchange and one of China's major vaccine manufacturers. The scandal was uncovered by the China Food and Drug Administration during a routine inspection.

The company's response was immediate destruction of its share value: Changsheng's stock lost nearly half its value when trading was suspended. The State Council publicly condemned the company and ordered a crackdown. Police moved to arrest eighteen people on suspicion of producing and selling substandard drugs. Fourteen executives were banned from working in the pharmaceutical sector for life.

In October 2018, a unit was fined 9.1 billion yuan ($1.32 billion) for falsifying rabies vaccine data and producing ineffective baby vaccines — the largest corporate fine in Chinese history. The company was also fined 3.4 million yuan for the ineffective DPT vaccines. The CSRC fined the company 600,000 yuan and banned four executives for life from the securities market. Changsheng proposed paying 200,000 to 650,000 yuan per person to those harmed. The company was forced into bankruptcy and delisted.