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Johnson & Johnson fined in China monopoly case | |
(about 2 hours later) | |
The healthcare giant Johnson & Johnson has become the latest foreign company to be accused of misconduct in China. | |
A ruling by a Shanghai court ordered the US company to pay $85,000 (£56,000) to a local distributor for violating anti-monopoly laws. | A ruling by a Shanghai court ordered the US company to pay $85,000 (£56,000) to a local distributor for violating anti-monopoly laws. |
Two subsidiaries of the company were accused of setting a minimum price for the sale of surgical instruments. | Two subsidiaries of the company were accused of setting a minimum price for the sale of surgical instruments. |
Multinationals have faced increased scrutiny from the Chinese authorities. | Multinationals have faced increased scrutiny from the Chinese authorities. |
Last month, two foreign milk suppliers announced price cuts after the government launched an investigation into possible price-fixing. | Last month, two foreign milk suppliers announced price cuts after the government launched an investigation into possible price-fixing. |
Sensitive | Sensitive |
Four Chinese executives from the pharmaceutical giant GlaxoSmithKline have also been detained after being accused of paying bribes. | |
The Chinese authorities are sensitive to consumer prices as the cost of living continues to surge. | The Chinese authorities are sensitive to consumer prices as the cost of living continues to surge. |
Some business analysts say that foreign companies are being targeted to shore up the market share for their Chinese competitors. | |
The Shanghai court overturned a judgment by a lower court that cleared the Johnson & Johnson subsidiaries. | |
The judge said the ruling was intended to protect consumers and the public interest. | |
He said the $85,000 damages were intended to compensate the distributor, Rainbow Medical, for lost sales. | |
It was denied access to further products by the suppliers after being told it was selling medical equipment too cheaply. | It was denied access to further products by the suppliers after being told it was selling medical equipment too cheaply. |
Rainbow Medical brought the case to court with a demand for $2.2m compensation. | |
It expressed disappointment at the size of the award. | It expressed disappointment at the size of the award. |
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