China Fines Cos. $1M Over Drug Ingredient Monopoly

Law360, San Diego (November 15, 2011, 5:28 PM EST) -- Chinese authorities on Monday fined two drug companies more than $1 million for trying to control the market for a fundamental ingredient used in blood pressure medication.

Applying the country’s anti-monopoly law, the National Development and Reform Commission said Weifang Shuntong Pharmaceutical Co. Ltd. was on the hook for $1.08 million and Weifang Huaxin Medicine Trade Co. Ltd. was fined about $24,000 after the companies signed a contract with China’s two producers of promethazine hydrochloride that restricted the producers from selling the ingredient to a third...
To view the full article, register now.