Thursday, May 29, 2014

China Reportedly Fines Essilor, Johnson & Johnson, Meditec, Valeant, Bausch & Lomb, Zeiss, and Nikon

National emblem of the People's Republic of China
People's Republic of China Emblem (Photo credit: Wikipedia)
"China on Thursday fined several foreign eyewear makers more than 19 million yuan ($3.1 million) for 'price manipulation,' the government said, in the latest targeting of overseas firms in the giant market," according to Yahoo! News Singapore. "The powerful National Development and Reform Commission (NDRC), China's top economic planner, launched an investigation last August into alleged violations of anti-monopoly law in the sector, the agency said in a statement. Five companies -- all foreign -- were given penalties ranging from 1.7 million yuan to 8.8 million yuan, it said. They included units of France's Essilor, Germany's Carl Zeiss, and Japan's Nikon Optical, as well as Bausch & Lomb and Johnson & Johnson -- both of the United States -- according to the statement." In other news stories, Meditec and Valeant Pharmaceuticals were also said to have been fined. Read more.
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