China Fines Eyeglass Lens and Contact Lens Makers for Alleged Price Fixing

BEIJING—A Chinese regulatory agency imposed fines totaling more than 19 million yuan ($3 million) against Essilor, Nikon, Johnson & Johnson, Bausch + Lomb, Carl Zeiss and other eyeglass and contact lens makers for allegedly fixing prices and engaging in antitrust behavior. The agency, the National Development and Reform Commission (NDRC), said on its website yesterday that it levied the fines after an investigation found the companies were exerting too much control over prices. It said some of the companies restricted retail prices and used tactics such as improperly controlling the terms of product promotions such as "Buy 3 Get 1 Free." The other companies named in the investigation— Hoya and Shanghai Weicon Optics Co. and TAG Heuer (Shanghai) Optical Co., and Shanghai Wei Kang Optical Co.—were exempted from the fines, the agency said.    See more