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China Drugmakers Decline on Corruption Crackdown: Shanghai Mover

Jiangsu Hengrui Medicine Co. fell the most in almost three years in Shanghai trading as drugmakers declined after the Xinhua News Agency reported China is starting a campaign to crack down on illegal competition in the industry.

Jiangsu Hengrui dropped 5.9 percent to 32.76 yuan at the close, the biggest loss since Oct. 11, 2010. Beijing SL Pharmaceutical Co. slid 5.8 percent to 55.59 yuan. A gauge of health-care companies fell 3 percent, the most among 10 industry groups on the CSI 300 index. The Shanghai Composite index dropped 0.9 percent and CSI 300 index lost 1.2 percent.