As part of an ongoing crackdown by China on business practices, it says lead to unfair competition, the central government is strengthening law enforcement of monopoly practices in the pharmaceutical industry.
The announcement by the ministry of industry and information technology that it would strengthen enforcement of laws designed to curtail monopolies in the production of active pharmaceutical ingredients and other drugs is part of a series of actions aimed at breaking up monopolies and curtailing unfair competition in a number of industries, from pharmaceuticals to China’s vast internet platform economy.
Last year, China began blocking mergers and levying significant fines on companies found to dominate markets, while beefing up the market regulator’s antitrust unit, the National Anti-monopoly Bureau.
Written by: Ames Gross – President and Founder, Pacific Bridge Medical (PBM)
Mr. Gross founded PBM in 1988 and has helped hundreds of medical companies with regulatory and business development issues in Asia. He is recognized nationally and internationally as a leader in the Asian medical markets. Mr. Gross has a BA degree, Phi Beta Kappa, from the University of Pennsylvania and an MBA from Columbia University.