U.S.-based Mead Johnson Nutrition announced the resolution of the antitrust review being conducted into the company's business in China by the National Development and Reform Commission.
"China remains one of the company's most important markets, and Mead Johnson reiterates its commitment to making positive contributions to the communities within which it operates," said Chief Executive Officer Peter Kasper Jakobsen. "The company will maintain its ongoing efforts to provide safe and high-quality products at good value for babies and young children across China and around the world."
As a result of the NDRC's review, the Commission has assessed administrative penalties against Mead Johnson and a number of other milk formula companies doing business in China. Mead Johnson was assessed a penalty of CNY203.76 million. The company does not intend to contest the NDRC's decision.
