China Human Vaccine Scare Wipes $483 Million From Pig Drug Stock
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China’s vaccine scandal is taking a toll in the stock market - even on a company that makes swine vaccines.
Shanghai Hile Bio-Technology Co., which gets its revenue from selling pig and poultry vaccines, has tumbled 34 percent over the last six days as violations by a human vaccine maker triggered a probe into the sector. The company’s clarification on July 23 that it never produced or sold human vaccines was little help, as the selloff wiped 3.3 billion yuan ($483 million) off its market value.