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Drug firms fined for monopolizing sales (2)

By Li Xiaoshu (Global Times)

08:43, November 15, 2011

Dozens of manufacturers, including Changzhou Pharmaceutical Factory, Yabao Pharmaceutical Group Co, CSPC Pharmaceutical Group and Shandong Xinhua Pharmaceutical Co, were forced to halt production since July due to rising promethazine hydrochloride cost, or to use the raw materials in stock to maintain normal medical supply, the NDRC said.

The two companies refused to comment on the issue.

The latest case is another landmark probe following the NDRC announcement Wednesday about an investigation into two major State-controlled companies, China Telecom Corp and China Unicom (Hong Kong), over alleged monopolistic activity in the broadband Internet service market, in a big test for the country's three-year-old antitrust law, analysts said.

An antitrust penalty against China's domestic companies may mean a lot to the transformation of the economic system, but the ultimate cause for such behavior is a lack of fair competition in State-dominated industries, according to Li Shuguang, an economics professor at the China University of Political Science and Law, who participated in the drafting of China's antitrust law.

The move is an effort to protect consumer interests, he told the Global Times. "China should further open up its market for private and foreign investment to address pricing and other antitrust issues."

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helen at 2011-11-15203.82.94.*
With sales of medicine at hospitals going up 20 times the ex factory prices, many middlemen and officials are profiteering from this. The Chinese people are the victims of such black operation.The CCDI should get into the picture quick before more scandals and scams enrage the people. This transition stage in China has given rise to 'anything for money' mentality and profiteers should be punished severely.Does Beijing have the will to do this!?
  

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