I'm not sure if it can go bad, but according to:
Farm and Goat Conversation :: View topic - Red Cell or Lixitinic or Geritol
(see excerpt below), The Red Cell formula has been changed and no longer includes the meat factions. It actually states on the new containers "contains no beef product ingredients"
OLD formula:
Ingredients: Water, Ferric Sulfate, Ammonium Hydroxide, Citric Acid, Choline Chloride, Zinc Sulfate, Sorbitol, Magnesium Sulfate, Potassium Chloride, Vitamin E, Vitamin A Acetate, D-activated Animal Sterol irradiated (source of Vitamin D-3), Copper Sulfate, Xanthan Gum, Manganese Sulfate, Thiamine Hydrochloride, d-Calcium Pantothenate, Sodium Saccharin, Riboflavin, Pyridoxine Hydrochloride, Folic Acid, Cobalt Sulfate, Menadione Sodium Bisulfite complex (source of Vitamin K), Sodium Benzoate, Niacinamide, Sodium Bicarbonate, Biotin, Sodium Selenite, Kelp Extract, Yucca Schidigera Extract, Dried Meat Solubles, Liver Concentrate, Ethylenedediamine Dihydriodide, Vitamin B-12 Supplement, Artificial Cherry Flavoring, FD&C Red #40 and Potassium Sorbate (as preservative).
New formula:
Ingredients: Water, Ferric Sulfate, Ammonium Hydroxide, Citric Acid, Choline Chloride, Zinc Sulfate, Sorbitol, Magnesium Sulfate, Potassium Chloride, Vitamin E, Vitamin A Acetate, D-activated Animal Sterol irradiated (source of Vitamin D-3), Copper Sulfate, Xanthan Gum, Manganese Sulfate, Thiamine Hydrochloride, d-Calcium Pantothenate, Sodium Saccharin, Riboflavin, Pyridoxine Hydrochloride, Folic Acid, Cobalt Sulfate, Menadione Sodium Bisulfite complex (source of Vitamin K), Sodium Benzoate, Niacinamide, Sodium Bicarbonate, Biotin, Sodium Selenite, Kelp Extract, Yucca Schidigera Extract, Ethylenedediamine Dihydriodide, Vitamin B-12 Supplement, Artificial Cherry Flavoring, FD&C Red #40 and Potassium Sorbate (as preservative).
The Dried Meat Solubles, Liver Concentrate have been removed. The only animal by product D-activated Animal Sterol irradiated (source of Vitamin D-3), is a purified cholesterol.