Two major Chinese Chlorpheniramine maleate manufacturers fined for soaring prices
HUNAN ER-KANG PHARMACEUTICAL CO., LTD (300267 and Hereafter as Er-Kang) and Henan jiushi Pharmaceutical Co., Ltd (Hereafter as Jiushi) were fined for 8.4794 Million CNY & 1.5573 Millon CNY separately for raising prices of pharmaceutical ingredient of Chlorpheniramine maleate to a sky high. As the biggest manufacturer and supplier of Chlorpheniramine maleate in China, Jiushi supplys about 150 Ton and Er-Kang 50 Ton(imported mainly), the 2 companies almost monoplized the total supply of Chlorpheniramine maleate to Chinse market.
Since Feb 2018(could be earlier), Er-Kang conspired with Jiushi to raise the price for Chlorpheniramine maleate together. indeed, in Sep 2018, Hunan Kang pharmaceutical Limited has proposed to purchase 51% of shares of Jiushi, so technically they are about to be one company monopolizing the supply of Chlorpheniramine maleate.
Related authorities thus imposed fines on both of the companies to make an example for other pharmaceutical companies to raise prices by monopoly.