August 7, 2013 / 4:11 AM / 4 years ago

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

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.

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below