Source:
https://scmp.com/business/companies/article/1281022/abbott-cut-milk-powder-prices-china-after-probe
Business/ Companies

Abbott to cut milk powder prices in China after probe

Chinese shoppers look over foreign milk powder brands. Photo: Reuters

Abbott Laboratories is cutting prices of its instant products in China by up to 12 per cent, the company said, joining other foreign firms in responding to Beijing’s probe into possible price-fixing by milk powder makers.

The diversified US healthcare conglomerate will cut prices of six products sold in China, including Similac and Pediasure, by 4 per cent to 12 per cent, the company said on its website this week on July 8.