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Full text of decision to fine Tianjin Jinyao for abuse of dominance published by Chinese regulator

( March 23, 2023, 02:40 GMT | Official Statement) -- MLex Summary: The Tianjin municipal Administration for Market Regulation has published the full text of its decision to fine Tianjin Jinyao Pharmaceuticals 27.7 million yuan ($4 million) for abusing its dominance in the market for carmustine injections. The company received a lighter punishment because it actively cooperated with the regulator’s investigation, drastically reduced the price of carmustine injections, and increased supplies of its products. Shanghai-listed Tianjin Tianyao Pharmaceuticals, Tianjin Jinyao’s parent company, said last Thursday in a stock exchange filing that its subsidiary had received a penalty decision from the Tianjin market regulator for selling carmustine injections at unfairly high prices. The regulator opened an investigation into the case in September 2020.The statement follows and the full text of the penalty decision is attached....

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