China’s National Development and Reform Commission announced Thursday that it has issued fines to several eyewear and contact lens companies for anticompetitive behavior, according to reports.
The NRDC announced on its website that it imposed more than $3 million in fines against Johnson & Johnson, Valeant Pharmaceutical-owned Bausch + Lomb and other companies for abusing their market dominance to manipulate costs, restrict retail prices and unfairly control agreements for product promotions.
In addition to the US and Canadian firms fined, the companies sanctioned hail from France, Japan, and Germany. The fines follow recent spikes in anti-monopoly crackdowns within China following the implementation of its new competition law in 2008.
The fines also follow some criticism that China is unfairly targeting foreign companies in its competition regulation.
Full content: Wall Street Journal
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
DOJ and FTC Introduce Website for Reporting Anti-Competitive Healthcare Practices
Apr 18, 2024 by
CPI
US Congress Advances Legislation to Compel TikTok Sale
Apr 18, 2024 by
CPI
UK Financial Sector Advocates Enhanced Regulatory Accountability
Apr 18, 2024 by
CPI
Google and All 50 States Defend $700 Million Consumer Settlement
Apr 18, 2024 by
CPI
Colorado Enacts First Law to Protect Consumer Brainwave Data
Apr 18, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI