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
Walmex Awaits Antitrust Ruling as Mexican Regulator Probes Alleged Practices
Oct 8, 2024 by
CPI
Crypto.com Sues SEC, Alleging Regulatory Overreach in Crypto Industry
Oct 8, 2024 by
CPI
Elite US Universities Face New Antitrust Suit Over Financial Aid Practices
Oct 8, 2024 by
CPI
Kirkland & Ellis Strengthens Antitrust Practice with New Partner from FTC
Oct 8, 2024 by
CPI
TikTok Hit with Lawsuits from 13 US States and DC
Oct 8, 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