Shanghai Pharmaceutical Co., Ltd. Affiliate Hit with Allegations of Poor Quality  
5/18/2011 12:31:15 PM

May 18, 2011 -- Just before it completes its Hong Kong IPO, Shanghai Pharma faces allegations of substandard quality in one of its products. Anhui Huayuan Pharmaceutical filed a formal complaint with the Hong Kong Stock Exchange, alleging quality problems with an antibiotic produced by two of its affiliates. Anhui Huayuan Pharma has been distributing the antibiotic, known as Cefotiam, a third generation beta-lactam cephalosporin, for the companies since 2004. More details....

Stock Symbol: (SHA: 601607, HK: 2607)