More companies have cut baby formula prices in China, they said, after coming under government scrutiny in an apparently widening price-fixing investigation.
At least four more firms said they would slash prices in the world’s largest market for baby formula, according to separate statements.
The government has yet to confirm any investigation, but state media reported that China’s National Development and Reform Commission launched a probe of mainly foreign companies over high prices.
US healthcare firm Abbott Laboratories was “actively cooperating” with the investigation and would lower prices by between four to 12 per cent, it said in a statement late on Monday.
Dutch firm Royal FrieslandCampina, which produces the Friso brand, said it cut China prices by five per cent from Monday.
A unit of Japanese dairy producer Meiji and a domestic formula manufacturer, Zhejiang Beingmate Technology Industry & Trade, neither of which had been named as being investigated, also said they would reduce prices.