Eye Drop Maker Shapuaisi Bribed Officials at Bureau That Gave It Innovation Awards
Dou Shicong
DATE:  Dec 08 2017
/ SOURCE:  Yicai
Eye Drop Maker Shapuaisi Bribed Officials at Bureau That Gave It Innovation Awards Eye Drop Maker Shapuaisi Bribed Officials at Bureau That Gave It Innovation Awards

(Yicai Global) Dec. 8 -- Chinese eye drop maker Zhejiang Shapuaisi Pharmaceutical Co. [SHA:603168], which came under media fire last week, paid bribes of as much as CNY10,000 to officials from a local science and technology bureau.

Investigations found Shapuaisi was involved in at least three bribery cases dating back to as early as 2006 in Pinghu in the eastern province of Zhejiang, The Paper reported yesterday. A section chief at the city's science and technology bureau took CNY217,000 of bribes between 2004 and 2008. CNY10,000 came from Shapuaisi.

The company slipped CNY1,500 and CNY2,000 to two others in 2015. The three officials got prison sentences ranging from three to seven years. Shapuaisi has received several tech innovation awards for from the bureau.

An online media outlet accused the company of making deceptive advertisements, claimed it spends much more on advertising than on research and development, and questioned the efficacy of its eye drops on Dec. 2.

The China Food and Drug Administration has required Shapuaisi to conduct clinical effectiveness tests and rewrite its advertising materials to avoid misleading consumers.

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Keywords:   Zhejiang Shapuaisi Pharmaceutical,Bribery,Cataract,China Food And Drug Administration