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China: Baby formula cos continue to adjust businesses among probe

By  |  July 10, 2013
China: Baby formula cos continue to adjust businesses among probe

Infant nutrition company Biotime is just the latest of such companies within China to modify its business practices following the announcement of an antirust investigation into the sector by Chinese authorities. The nation’s National Reform and Development Commission launched a probe into various makers of infant formula for suspicion of price-fixing. Biostime announced Tuesday plans to revise contracts with its distributors, according to reports. The case is particular, however, as reports say the price-fixing probe focuses on foreign companies in the market; Biostime is a domestic company. The company’s wholly-owned Chinese subsidiary is currently under investigation by the NDRC.

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