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Chinese Watchdog Fines Two Pharmaceutical Companies For

By  |  May 28, 2023

The market regulator of China announced on Sunday that it had imposed fines on two pharmaceutical companies for monopolistic behaviour.

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    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.

    Read more: Pharmaceutical Settlements and Judicial Error

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

    In late 2020, Chinese regulators initiated antitrust investigations on several industries, with a particular focus on technology companies including the Alibaba Group.