Abbott agrees to pay $12 mln fine in China price fixing probe

SHANGHAI Wed Aug 7, 2013 12:09am EDT

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SHANGHAI Aug 7 (Reuters) - Abbott Laboratories has agreed to pay a fine amounting to around $12 million, a spokeswoman said in emailed comments on Wednesday, following Chinese investigations into price fixing and anti-competitive practices by foreign baby formula makers.

China's top economic planner fined six companies a total of 670 million yuan ($109.45 million), China's state media reported earlier on Wednesday, including Abbott, Mead Johnson, Dumex, Fonterra, Friesland and Biostime.