Shanghai Pharmaceuticals' (SHA:601607, HKG:2607) unit, Shanghai Sine United Medicinal Herbs, was ordered to pay a a total penalty 165.8 million yuan for violating the anti-monopoly law, according to a Hong Kong Stock Exchange disclosure on Saturday.
The Shanghai Municipal Administration for Market Regulation said Sine United Medicinal Herbs and its operators made monopoly agreements for the neostigmine methylsulfate injection.
The penalty includes the forfeited illegal income of 115.5 million yuan and a fine of 10% of its 2023 revenue. The fine was mitigated by 80%, resulting in an actual penalty of 50.3 million yuan.
The forfeited income and fine totaled 165.8 million yuan.
The regulator also ordered the pharmaceutical company to cease its illegal acts, the disclosure said.
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