Taihua slumps after halting production

Pharmaceutical group Taihua said it was in the process of renewing its Chinese goods manufacturing practice certificate.

The China-based firm said that, as a result, its production of Chinese medicines, homoharringtonine and paclitaxel has been suspended while its facilities are refitted to meet the rules.

In a short statement released on Thursday, the London-listed group added it expects production of the traditional Chinese medicines to restart before the end of September, with homoharringtonine and paclitaxel production to restart by the end 2015.

The suspension in production is unlikely to have any immediate effect on its trading, the company said, indicating it has sufficient stock to deliver its anticipated orders for the next few months while it carries out the process.

Taihua shares were down 6.36% to 2.58p a 1139 BST on Thursday.