May 30, 2023 03:28 AM

CHINA

China Fines Two Chinese Drug Ingredient Suppliers $45.4 Million

By Cui Xiaotian and Denise Jia

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Grand Pharmaceutical (China) Co. Ltd. is one of only two domestic suppliers of ingredients for norepinephrine and epinephrine injections.

Grand Pharmaceutical (China) Co. Ltd. is one of only two domestic suppliers of ingredients for norepinephrine and epinephrine injections.

China fined two pharmaceutical companies a combined 321 million yuan ($45.4 million) for monopoly practices as the country’s only suppliers of ingredients for a drug that’s crucial in emergency medicine.

The State Administration for Market Regulation (SAMR) fined Hong Kong-traded Grand Pharmaceutical (China) Co. Ltd. 286 million yuan and Wuhan Huihai Medicine Co. Ltd., 35 million yuan, the market regulatory agency said Sunday in a statement.

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