This is the new MLex platform. Existing customers should continue to use the existing MLex platform until migrated.
For any queries, please contact Customer Services or your Account Manager. Dismiss

Two pharmaceutical firms fined by Chinese market regulator for monopolistic practices

( May 29, 2023, 02:29 GMT | Official Statement) -- MLex Summary: Grand Pharmaceutical (China) and Wuhan Healcare Pharmaceuticals have been fined by China’s State Administration for Market Regulation for reaching and implementing a monopolistic agreement under which Wuhan Healcare received compensation from Grand Pharmaceutical for ceasing to sell noradrenaline bitartrate monohydrate and adrenaline between June 2016 and July 2019. Separately, Grand Pharmaceutical has also been deemed by the regulator to have abused its dominance in the Chinese market for norepinephrine and adrenaline between May 2010 and April 2021 by forcing downstream preparation makers to sell related injections to it at low prices and to accept several unreasonable trading terms. Grand Pharmaceutical was fined 3 percent of its revenue for 2019 and Healcare was fined 2 percent of its revenue for 2019. The regulator started investigating the matter in November 2020.The statement follows and the penalty decisions are attached:...

Prepare for tomorrow’s regulatory change, today

MLex identifies risk to business wherever it emerges, with specialist reporters across the globe providing exclusive news and deep-dive analysis on the proposals, probes, enforcement actions and rulings that matter to your organization and clients, now and in the longer term.


Know what others in the room don’t, with features including:

  • Daily newsletters for Antitrust, M&A, Trade, Data Privacy & Security, Technology, AI and more
  • Custom alerts on specific filters including geographies, industries, topics and companies to suit your practice needs
  • Predictive analysis from expert journalists across North America, the UK and Europe, Latin America and Asia-Pacific
  • Curated case files bringing together news, analysis and source documents in a single timeline

Experience MLex today with a 14-day free trial.

Start Free Trial

Already a subscriber? Click here to login

Documents

Related Sections