Lately, not a week passes without China's trumpeting a new drug-safety initiative, and this week is no exception. Now, the country says it's launching a nationwide drug recall system. The news comes on the heels of a drug-and-device safety pact with the U.S., signed into being just yesterday. The recall plan will force pharma companies to withdraw problem products within 24 hours if the pose major safety concerns. If companies voluntarily recall bad drugs, they may escape fines and other punishments.
Meanwhile, China has also cracked down on the manufacturer of a tainted leukemia drug by pulling its production license. Shanghai Hualian Pharmaceutical also saw revenues from the drug seized, and company officials were taken into custody.