Chinese Drugmaker Guizhentang Pharmaceuticals' IPO Protested Over Bear Bile
2/13/2012 8:21:26 AM
Just as major drugmakers such as GlaxoSmithKline express more interest in traditional Chinese medicine (see this), some practices are generating sustained protests. One example is using bile from captive black bears to make pharmaceuticals for treating the liver and eyes. To thwart Guizhentang Pharmaceuticals, which reportedly keeps nearly 500 bears on its farms, from trading its stock publicly, animal activists have hit on the idea of contacting existing investors with plans to buy their shares in hopes of preventing the drugmaker from being able to follow through on its planned stock sale.