Skip to comments.Listed Chinese pharma used gutter oil to make antibiotics
Posted on 09/03/2012 6:10:33 PM PDT by LibWhacker
A company in Shanghai which collects "gutter" oil. (Photo/Xinhua)
Joincare Pharmaceutical Group, which is listed on the Shanghai Stock Exchange, has been accused of using recycled waste cooking oil as an ingredient in antibiotics, reports the Shanghai Securities News.
Citing the indictment filed by prosecutors with the Ningbo Intermediate People's Court in Zhejiang province, the newspaper said Joincare was the largest user of the "gutter" oil produced by Gelin Biology Company in Jinan, Shandong province. Gutter oil refers to waste oil collected from restaurants and illegally reused.
The prosecutors said Gelin sold its gutter oil to a company called Huikang Youzhi in Henan province, which resold it to Joincare Biology Company in Jiaozuo in the same province, after mixing the oil with ordinary soybean oil.
Joincare Biology is a subsidiary of Joincare Pharmaceutical, which used the gutter oil to produce an ingredient for antibiotics.
From the beginning of 2010 to July last year, Huikang sold 16,200 tons of gutter oil for a price of 145 million yuan (US$22.9 million) to Jiaozuo Joincare, or 8,950 yuan (US$1,411) per ton, 400-2,250 yuan (US$63-$345) per ton less than Huikang charged other buyers and far less than the price of ordinary oil.
Owing to the low price of the oil, Jiaozuo Joincare registered healthy profits of 339 million yuan (US$53.5 million) in 2010, contributing almost a half to Joincare's net profit of 740 million yuan (US$116.7 million) that year, reported Shanghai Securities News.
Jiaozuo Joincare posted a loss of 43 million yuan (US$6.8 million) in 2011 because of a sharp decline in the price of the ingredients it produced, according to the company.
The newspaper quoted a source at Joincare as confirming that the company had bought oil from Huikang for a short period of time, but did not know it was recycled gutter oil. It began to buy oil from the state-run food processing company COFCO, after Huikang was caught producing gutter oil.
However, the indictment said Joincare could not have purchased the oil without knowing that something was amiss, as its price was far lower than that of ordinary oil.
And GM thinks it's a good idea to open a plant over there?!? Presumably the move was to get in on the low cost of production. But why? The company must think consumers are idiots.
I’ll never eat soy sauce again.
China is making 2x the number of vehicles that the US is and that stat is increasing every year.
Anybody who doesn’t participate in that market is likely to be left behind.
and it ain't Chinese brands, it's in all brands.
I ain't just the vitamin C . . . .
Buy Japanese soy sauce ... better anyway.
” Buy Japanese soy sauce ... better anyway. “
hmmm I heard something about Japanese *radiation* - still and all over the place ~
(A talk radio person said some Japanese tea (leaves) registered something with a radiation meter.)
In less than a decade, China has captured 90 percent of the U.S. market for vitamin C, driving almost everyone else out of business.
Chinese pharmaceutical companies also have taken over much of the world market in the production of antibiotics, analgesics, enzymes and primary amino acids. According to an industry group, China makes 70 percent of the world’s penicillin, 50 percent of its aspirin and 35 percent of its acetaminophen (often sold under the brand name Tylenol), as well as the bulk of vitamins A, B12, C and E.
You don’t want your fried rice glowing in the dark?
Never? How are going to avoid Made in China.
Do you remember this scandal from several years ago?
I’m simply not going to eat soy sauce again. Period.
As fa as I’m concerned all food from china should be labeled as such with the largest brightest lettering on the package so people can avoid it.
You are out of your mind if you eat poisonous Chinese foods or medicines.
The problem is that our corrupt, non-functioning federal government does not allow you to know. Chinese apple juice is added to many foods. Many vitamins are now made in China. Some fish and shrimp are farm raised in China.
Well, if "free trade" becomes conditional on "fair trade"...as per Romney.
LOL. I hear ‘ya, old timer.
I thoroughly enjoyed reading through your homepage. You are a walking inspiration and I salute you! Cheers!
“China is making 2x the number of vehicles that the US is and that stat is increasing every year.
Anybody who doesnt participate in that market is likely to be left behind.”
I don’t believe a single number from a single government office in China, nor from a single company in China. I have come to believe it is all made up out of whole cloth - or rice.
When the music stops, I hope you can find a chair.
Whenever I start to buy any food, I look to see where it came from. If it is China, forget about it. You would be amazed how much of the lower cost spices and seasonings come from China. Scary!
their new corporate logo...
Sad, isn’t it...
Do you ever experience the unexpected flavor of dirty deep fried dumplings?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.