Date
23 September 2017
Johnson & Johnson is one of several firms fined over price fixing in the mainland contact lens and eye-glass market. Photo: Bloomberg
Johnson & Johnson is one of several firms fined over price fixing in the mainland contact lens and eye-glass market. Photo: Bloomberg

Lensmakers fined 19.6 mln yuan in total for price fixing

China has fined Johnson & Johnson, Bausch & Lomb Inc. and several other firms a combined 19.6 million yuan (US$3.17 million) for price fixing in the country’s contact lens and eye-glass market.

Some of the companies asked suppliers to sign a contract “strictly” adhering to their suggested retail prices, while others made resellers hold similar promotions at the same time to maintain prices at a certain level, the National Development and Reform Commission said in a statement on its website Thursday.

The firms would also offer retailers bonuses for sticking to the practices. Retailers that did not comply with requests might face a warning, fine, or even a suspension of supply, the statement said.

The authorities also investigated the contact lens and eye-glass lens units of Essilor International SA (EI), Nikon Corp., Carl Zeiss Meditec AG, Hoya Corp. and Shanghai Weicon Optics Co..

Chinese regulators have stepped up price-fixing checks on local and international companies since last year. Six infant formula companies, including Mead Johnson Nutrition Co. and Danone were fined a combined 669 million yuan for violating anti-monopoly laws last August.

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JZ/JP/SK

Freelance journalist

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