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Three Chinese pharmaceutical companies fined for price-fixing, market division

( March 21, 2025, 04:19 GMT | Official Statement) -- MLex Summary: China's Shanghai Sine United Medicinal Herbs has been fined 50.3 million yuan ($6.9 million) and has had confiscated 115 million yuan in illicit gains for price-fixing and market division in collusion with Henan Runhong Pharmaceutical and Chengdu Hui Xin Pharmaceutical, according to a set of decisions published by the State Administration for Market Regulatio. Runhong and Hui Xin were fined 42.7 million yuan and 14.5 million yuan, respectively, including penalties set at 4 percent of their 2023 sales and the seizure of illegal earnings. Guo Suning, Sine United's former business-development manager, was also fined 500,000 yuan for his role in the violations. The regulator's Shanghai branch initiated the investigation in April last year.The statement follows and the decisions are attached:...

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