China curbs Baidu healthcare ads business after student’s death
By Paul Carsten BEIJING (Reuters) – Chinese regulators imposed limits on the lucrative healthcare adverts carried by Baidu Inc on Monday following the death of a student who underwent experimental cancer treatment he found via China's biggest search engine. Baidu's shares fell by 5 percent in pre-market trading in New York following the move, as healthcare provides 20 to 30 percent of the company's search revenue, analysts at Nomura and Daiwa said. Baidu shares have fallen since the controversy over the death of student Wei Zexi erupted at the start of the month and had lost 10.5 percent of their value by last week's close.
