Monopoly prices for medical devices pose threat to the interest of patients

THE CHINA UNIT of US company Medtronic, a leading supplier of high-end medical devices, was fined 119 million yuan ($17.3 million) for monopolistic practices, the National Development and Reform Commission announced on Wednesday. Beijing News commented on Saturday:

The Chinese antitrust authorities issued their first punishment in the medical device industry to Medtronic, which was fined for fixing prices by seeking monopoly agreements with its dealers.

The company even attempted to thwart the official investigation. During a "surprise" visit by Chinese anti-monopoly enforcers, the company's China branch refused to cooperate and stopped the investigators from taking any action for over six hours.