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China Watchdog Fines Two Pharma Firms

 |  May 30, 2023

According to Reuters, two pharmaceutical companies were fined by China’s market regulator for engaging in monopolistic behavior.

Grand Pharmaceutical was fined 136 million yuan ($19.68 million) and had 149 million yuan of “illegal revenue” confiscated for engaging in a monopolistic agreement with Wuhan Healthcare Pharmaceuticals.

Related: UK: CMA accuses pharma firms of market allocation

Wuhan Healcare Pharmaceuticals was fined 4.13 million yuan by the regulator and had slightly over 30 million yuan of its revenue confiscated.

In recent months, Chinese regulatory authorities have initiated antitrust investigations on various sectors, with a particular focus on technology corporations, including Alibaba Group.