Medical giant loses antitrust lawsuit
By Zhou Wenting in Shanghai and Zhao Yinan in Tianjin | China Daily | Updated: 2013-08-02 07:06
Johnson & Johnson ordered to pay 530,000 yuan for setting price floor
Medical giant Johnson & Johnson has become the first Fortune 500 company to be ruled by a Chinese court as holding a monopoly, in a landmark lawsuit that experts say signals the country's tougher stance toward price-fixing.
In a final verdict on Thursday, Shanghai High People's Court ordered Johnson & Johnson Medical China Ltd and Johnson & Johnson Medical Shanghai Ltd to pay 530,000 yuan ($86,456) in compensation to a former dealer.
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