Wu Jianwen, the former head of Shanghai Pharmaceutical Group Ltd., was convicted of accepting bribes, embezzling public funds and other graft charges by the Shanghai Intermediate People's Court, according to a court official surnamed Wang.
Wang said the court handed down a suspended death sentence with a two-year reprieve. Such sentences usually are commuted to life in prison with good behavior.
Shanghai Pharma says it is China's third largest pharmaceutical maker and second largest distributor of pharmaceutical products.
The punishment comes as China wrestles with food and product safety concerns and appears aimed at showing that the authorities are cracking down on rampant corruption.
In 2007, China executed Zheng Xiaoyu, the former head of the country's food and drug regulatory authority, after he was convicted of taking bribes to approve flawed medicine blamed for several deaths.
The punishment became a symbol of a product safety crisis which had been triggered by the discovery of potentially deadly substances in exports, from pet food ingredients to fish.
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