China regulator penalizes two pharma firms for monopoly
The China regulator has fined two pharma firms, Grand Pharmaceutical and Wuhan Healcare Pharmaceuticals, for entering
By: : Daniel
Update: 2023-05-29 07:15 GMT
China regulator penalizes two pharma firms for monopoly Antitrust crackdown has been taking place on industries since 2020The China regulator has fined two pharma firms, Grand Pharmaceutical and Wuhan Healcare Pharmaceuticals, for entering into a deal and monopolizing the trade. It fined Grand Pharmaceutical 136 million yuan ($19.68 million) and confiscated 149 million yuan of...
China regulator penalizes two pharma firms for monopoly
Antitrust crackdown has been taking place on industries since 2020
The China regulator has fined two pharma firms, Grand Pharmaceutical and Wuhan Healcare Pharmaceuticals, for entering into a deal and monopolizing the trade.
It fined Grand Pharmaceutical 136 million yuan ($19.68 million) and confiscated 149 million yuan of illegal revenue and penalized Wuhan Healcare 4.13 million yuan and confiscated over 30 million yuan of its revenue.
Since late 2020, Chinese regulators began antitrust crackdowns on multiple industries, particularly, technology companies such as Alibaba Group.