J&J pleased to have Chinese court dispute over
BEIJING (AP) — Health care giant Johnson and Johnson says it is pleased to put a legal dispute behind it after a Chinese court ordered it to pay compensation to a former distributor under an anti-monopoly law.
Thursday's ruling said Johnson & Johnson was guilty of "vertical monopoly" for setting minimum prices its distributors charged for surgical sutures. It noted J&J has stopped thet practice but ordered it to pay 530,000 yuan ($85,000) to a Chinese distributor that said it lost potential sales due to the restriction.
J&J said, "While we are disappointed with today's ruling by the Higher People's Court of Shanghai, we are pleased to have put this matter behind us and look forward to continuing to provide our high quality products and services to healthcare institutions and patients in China."