Sunday, July 21, 2024

Why are shares of a traditional Chinese medicine pharmaceutical company falling?


Chinese medical corporation Shijiazhuang Yiling Pharmaceutical, which manufactures medicines based on traditional medicine prescriptions, has rapidly depreciated over the past month - its share price has fallen from more than $ 7.25 to $ 4.35. It cost the company billions of dollars in capitalization. The reason is the popular coronavirus drug Lianhua Qingwen.

As it turned out, through and through “natural”, “harmless herbs” pills that supposedly help speed up recovery from COVID-19 can cause heart problems, kidney and liver failure, up to liver failure altogether. At the same time, claims of a positive effect against coronavirus are supported only by the company's own research.

A fall so severe that a corporation has launched a massive media campaign to whiten its reputation. So far, it is helping little - stocks continue to fall, although not as quickly as a few weeks ago.

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