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US ruling on Chinese Vitamin producers unfair

2013-03-27 14:39 CNTV     Web Editor: yaolan comment

The North China Pharmaceutical Group said recently it would appeal the fines after receiving the official verdict from a US federal court. China's Ministry of Commerce also responded to the case, by saying the allegations of price fixing are both unfair and inappropriate.

The US ruling marked the first time a Chinese pharmaceutical company was fined in a US antitrust case. The Chinese side continues to work closely on the case.

Zhang Tingde, head of Legal Affairs Dept., NCPG, said, "Based on US legal procedures, we are entitled to propose a motion to modify or repeal the verdict. Our company IS preparing the motion for the court."

China's Ministry of Commerce and its affiliated chamber in charge of the import and export of medicine and health products also responded to the case.

Shen Danyang, spokesman of China's Ministry of Commerce, said, "The US court should take into full consideration the facts of the case and the special circumstances. China is in a stage of economic reforms and structural transformation.

China will continue to offer firm support for Chinese companies to safeguard their legitimate interests by lawful means."

Xu Ming, vice chairman of CCCMHPIE, said, "We'll keep paying attention to the case. The Chinese firms were acting in compliance with Chinese laws at the time. We will continue our support to the companies for their appeal."

Vitamin C is an essential nutrient for humans and certain other animal species, making it an important ingredient for food, drugs, and feedstuff. Since the turning of the century, China's vitamin C production has expanded to become a major supplier in the global market.US firms allege that Chinese vitamin C makers formed an illegal price-fixing cartel from 2001.

 

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