(Yicai Global) Oct. 23 -- China intends to tighten its penalties for firms that sell bogus drugs.
Companies that make or sell counterfeit medicine will face fines from twice to 30 times the value of the products, a draft amendment to the Drug Administration Law suggested. The bill will require an approval from the Standing Committee of the National People's Congress.
Firms that produce or sell sub-standard drugs will be liable to forfeit from one to fifteen times the product revenue. Legal representatives of firms involved in these cases will be heavily fined and banned from the industry.
Local government officials that are considered involved in medical fraud will also face heavier punishments from downgrading to expulsion.
People who are aware or should be aware that the quality of the drug they deliver or store is compromised will be fined up to fifteen times their earnings.
Editor: Emmi Laine