API drugmakers face fines in China's Tianjin for price fixing
( May 2, 2025, 09:59 GMT | Official Statement) -- MLex Summary: Chinese drugmaker Jinyao Pharmaceutical said Tianjin's antitrust regulator imposed a 26.4 million yuan ($3.6 million) fine on the company for fixing the prices of active pharmaceutical ingredient dexamethasone sodium phosphate, according to a stock exchange filing. The fine, initially set at 132 million yuan or 8 percent of its 2023 turnover, was reduced by 80 percent due to leniency. The authority also decided to confiscate illegal gains of 42.8 million yuan. Separately, Jiangsu Lianhuan Pharmaceutical said the Tianjin regulator plans to impose a 43.1 million yuan fine on the company for its part in the price fixing offense, after applying a 30 percent leniency discount. The regulator also intends to confiscate 17.9 million yuan in illicit gains from Jiangsu Lianhuan Pharmaceutical.The stock exchange filings are attached....
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