S. Korea fines pharma giant Celltrion for unfair business practices ...Middle East

Seoul, Dec 3 (IANS) South Korea’s antitrust regulator on Tuesday said it has fined leading drugmaker Celltrion 435 million won ($309,900) for engaging in unfair business practices. The biopharmaceutical giant is accused of unfairly benefiting its affiliate, Celltrion Healthcare, by waiving inventory storage fees and granting free use of trademark rights, according to the Fair Trade Commission (FTC), Yonhap news agency reported. The FTC concluded that such tactics undermined fair competition and resulted in undue financial benefits for Celltrion Healthcare, estimated at 1.2 billion won. The FTC, however, decided not to refer Celltrion Chairman Seo Jung-jin to prosecutors for further investiga

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