J&J, B+L, Essilor, others fined by Chinese authorities for price fixing
Chinese authorities fined Johnson & Johnson, Baush + Lomb, Essilor International, Nikon, and Carl Zeiss Vision Guangzhou a combined total of 19.6 million yuan, or $3 million, for price fixing in the country’s contact lens and eyeglasses market.
Beijing, China-Chinese authorities finedJohnson & Johnson, Baush + Lomb, Essilor International, Nikon, and Carl Zeiss Vision Guangzhou a combined total of 19.6 million yuan, or $3 million, for price fixing in the country’s contact lens and eyeglasses market.
A Chinese National Development and Reform Commission (NDRC) investigation found that some of the companies had asked suppliers to sign a contract, which required strict adherence to the manufacturer’s suggested retail price.
According to a statement translated from Chinese, the NDRC said “the companies involved in such acts to limit the distributor’s independent pricing, in violation of the ‘anti-monopoly law,’” and “weaken price competition and undermine the market order of fair competition.”
Shanghai Weicon Optics and Hoya were also investigated but were not fined because they voluntarily reported monopolistic practices and fixed the problems.
