Changchun Changsheng Biotechnology

Changchun Changsheng Biotechnology was once one of China's largest vaccine manufacturers, specializing in a wide range of human immunizations. Based in Changchun, the company produced high-volume products such as rabies, varicella, and DTaP vaccines. In 2018, the firm was embroiled in a major scandal after regulators discovered it had falsified production and inspection records for its rabies vaccine. This led to a total production halt, the revocation of its pharmaceutical licenses, and a record-breaking fine of approximately $1.3 billion. The company was subsequently delisted from the Shenzhen Stock Exchange and declared bankrupt in 2019. Its downfall prompted significant regulatory overhauls within the Chinese pharmaceutical industry.