BEIJING : China will toughen regulation enforcement to curb monopoly practices and unfair competitors in the pharmaceutical industry as the federal government seeks to foster a very good enterprise setting, the industry ministry mentioned on Sunday.
The motion follows November’s regulatory pointers to stamp out monopolies in lively pharmaceutical substances (API). China leads the world in making and exporting these merchandise.
In a press release, the ministry of industry and data know-how mentioned it will “strengthen law enforcement against unfair competition, and resolutely investigate unfair competitive acts, such as commercial bribery”.
It can even stiffen enforcement of anti-monopoly legal guidelines in the areas of drug shortages and APIs, put together and undertake antitrust pointers in the API market and examine monopolistic pacts, it added.
(Reporting by Emily Chow; Editing by Clarence Fernandez and Gerry Doyle)