CCCME News
Drugs companies fined for price fixing
Five Chinese pharmaceutical companies have been fined a combined total of 4 million yuan ($608,000) for acting in collusion to fix the price of a common medication.
The drug, allopurinol, is listed as an essential medicine in China and is widely used to treat gout and hyperuricemia, or abnormally high levels of uric acid in the blood.
The National Development and Reform Commission, the nation's top pricing regulator, found that Chongqing Qingyang, Jiangsu Shimaotianjie and Shanghai Xinyi, which have been the only three domestic producers of allopurinol tablets since 2014, reached monopoly agreements with two distributors, Chongqing Datong and Shangqiu Huajie over the drug.
"Five companies have been fined for colluding to manipulate pricing and for dividing the market of a common tablet," said Lu Yanchun, deputy inspector of the Price Supervision and Anti-Monopoly Bureau at the commission, adding that the cartel's actions had negatively impacted consumer welfare and market competition in China.
"Even though the fine is not the largest issued since the NDRC began bringing actions against pricing collusion, it is significant," said Lu.
Between 2014 and 2015, the price of allopurinol tablets increased fourfold, and the three producers agreed to only sell the tablets in designated areas, according to the bureau.
Nearly 60 pharmaceutical manufacturers, including both domestic and foreign-owned companies, were subjected to probes under China's Antitrust Law in 2013.
The first fines issued by the NDRC against members of the industry were in 2011, when two companies were ordered to pay a total of 7 million yuan ($1.06 million).
RECENT NEWS
-
Executives of Standard Bank Head Office Pays a Visit to CCCME
2025-03-25 -
CCCME President Zhang Yujing Attends the “Investment Promotion Conference of Hung Yen Province, Vietnam”
2025-03-24 -
CCCME Vice President Liu Chun Meets with the U.K. South Yorkshire Mayor Oliver Coppard
2025-03-24 -
China-France Business Council Exchange & Visit in Chongqing Successfully Held
2025-03-21 -
2025 Wuxi Electric Vehicle High-Quality Overseas Exploration Cooperation Signing Ceremony and Global Launch Ceremony of New Electric Vehicle Models Successfully Held
2025-03-20