Viral dance challenge lifted Chinese ibuprofen maker’s shares – now they are languishing
When an ibuprofen dance challenge went viral on the Chinese social media platform Douyin in late 2022 during the Covid-19 pandemic, shares of the country’s leading ibuprofen maker surged more than 200 per cent in two weeks. Now profits at Shandong Xinhua Pharmaceutical are plunging, and it is not alone, as drug makers are hit…