Northeast Pharmaceutical Co., Ltd (SHE: 000597) was fined RMB 133 million (USD 19m) by the Liaoning Administration for Market Regulation. The China-based firm was investigated by the bureau in November 2019, when the company was suspected of monopoly selling of levocarnitine active ingredients from November 2018 to June 2019.
Investigation and Findings
The Liaoning Administration for Market Regulation initiated an investigation into Northeast Pharmaceutical in November 2019, suspecting the company of engaging in monopoly practices. The investigation focused on the company’s sales of levocarnitine active ingredients, a critical component in various pharmaceutical products, from November 2018 to June 2019.
Regulatory Action and Fine
Following the investigation, the Liaoning Administration for Market Regulation determined that Northeast Pharmaceutical had violated regulations by monopolizing the sale of levocarnitine active ingredients. As a result, the company was fined RMB 133 million (USD 19m), reflecting the severity of the regulatory breach and the importance of maintaining fair market competition.Fineline Info & Tech
