National Development and Reform Commission, China’s anti-monopoly regulator, recently fined five local drug firms a total of nearly 4 million yuan for fixing the price of allopurinol, a treatment for gout and kidney disease, Reuters reported.
According to the NDRC, the drug firms colluded to increase the price of the allopurinol tablets from April 2014 to Sept. 2015.
“[The firms] created monopolies by agreeing to raise sales prices and artificially carve up the market,” the NDRC said in its official statement.
Allopurinol is on China’s essential drug list.
The NDRC emphasized that the involved firms have held several meetings where their officials negotiated to have a fixed price for the said tablet, hence violating the anti-monopoly law.
Full content: Yibada
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
Veteran Lawyers Launch Boutique Antitrust Firm in NY and DC
Oct 6, 2024 by
CPI
EU’s Top Court Upholds Antitrust Veto on Thyssenkrupp-Tata Steel Deal
Oct 6, 2024 by
CPI
Brazil’s Court Delays X’s Return Over Fine Payment Dispute
Oct 6, 2024 by
CPI
Tencent and Guillemot Family Consider Potential Buyout of Ubisoft
Oct 6, 2024 by
CPI
Second Price-Fixing Case Against Hotel-Casinos Dismissed by Federal Judge
Oct 6, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Refusal to Deal
Sep 27, 2024 by
CPI
Antitrust’s Refusal-to-Deal Doctrine: The Emperor Has No Clothes
Sep 27, 2024 by
Erik Hovenkamp
Why All Antitrust Claims are Refusal to Deal Claims and What that Means for Policy
Sep 27, 2024 by
Ramsi Woodcock
The Aspen Misadventure
Sep 27, 2024 by
Roger Blair & Holly P. Stidham
Refusal to Deal in Antitrust Law: Evolving Jurisprudence and Business Justifications in the Align Technology Case
Sep 27, 2024 by
Timothy Hsieh