Brief: Grand Pharmaceutical's Unit Receives Notice From China State Administration For Market Regulation

Grand Pharmaceutical

30/05/2023 07:19

May 30 (Reuters) - Grand Pharmaceutical Group Ltd
 0512.HK :
    * ON 28 MAY, UNIT RECEIVED NOTICE OF ADMINISTRATIVE DECISION
BY
CHINA STATE ADMINISTRATION FOR MARKET REGULATION
    * AT PRESENT, GROUP'S PRODUCTION AND OPERATION SITUATION IS
NORMAL
    * FINE ESTIMATED NOT TO HAVE A CONTINUOUS IMPACT ON
PRODUCTION AND
OPERATION OF GROUP
    * ACCORDING TO CSAMR, FROM MAY 2010- APRIL 2021, UNIT ABUSED
POSITION IN CHINESE NOREPINEPHRINE BITARTRATE INJECTION API
MARKET
    * CSAMR CONFISCATED GAIN OF RMB149.5 MILLION FROM MONOPOLY
BEHAVIOR
    * CSAMR HAS IMPOSED FINE OF RMB136.1 MILLION ON UNIT
    * ACCORDING TO CSAMR, FROM MAY 2010- APRIL 2021, UNIT ABUSED
POSITION IN CHINESE EPINEPHRINE API MARKET
    * ADMINISTRATIVE FINE TO NOT HAVE ANY MATERIAL ADVERSE
IMPACT ON
BUSINESS OPERATIONS AND FINANCIAL POSITION OF GROUP

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