China to strengthen anti-monopoly efforts in pharma industry

China will toughen law enforcement to curb monopoly practices and unfair competition in the pharmaceutical industry as the government seeks to foster a good business environment, the industry ministry said on Sunday.

The action follows November’s regulatory guidelines to stamp out monopolies in active pharmaceutical ingredients (API). China leads the world in making and exporting these products. read more

In a statement, the ministry of industry and information technology said it would “strengthen law enforcement against unfair competition, and resolutely investigate unfair competitive acts, such as commercial bribery”.

It will also stiffen enforcement of anti-monopoly laws in the areas of drug shortages and APIs, prepare and adopt antitrust guidelines in the API market and investigate monopolistic pacts, it added.

Author: Emily Chow, Reuters

You might also like