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China: Foreign infant milk makers get competitive with lower prices

By  |  July 4, 2013
China: Foreign infant milk makers get competitive with lower prices

Following reports that Chinese authorities were investigating foreign manufacturers of instant infant milk formula, various foreign companies involved in the investigation have reportedly lowered their prices. The media speculated that the National Development and Reform Commission’s decision to investigate allegations of price-fixing within the infant milk formula market was part of a larger effort to promote domestic businesses, foreign firms, including Wyeth Nutrition, have decided to cut prices. Wyeth said in a statement the company was fully cooperative with Chinese regulators. Specifically, the company vowed to not increase product prices for a full year.

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