Chinese authorities probing German drugmaker Bayer AG
SHANGHAI (REUTERS) - Chinese authorities visited a local office of German drugmaker Bayer AG in late August to investigate a potential case of unfair competition, the company said on Friday.
China's regulators have been probing numerous international and Chinese drugs firms, with investigations into the pharmaceutical sector spanning alleged corruption to how drugs are priced.
Bayer said it was working with Chinese authorities, led by a local branch of China's State Administration for Industry and Commerce (SAIC), but did not expand on the status of the probe.
"We are taking the investigation seriously and are fully cooperating with the authority," Bayer said in an emailed statement to Reuters.