South Korea's FTC fined Celltrion $309,900 for favoring its affiliate with unfair benefits.

South Korea's FTC fined biopharmaceutical firm Celltrion $309,900 for unfair business practices, including favoring its affiliate, Celltrion Healthcare, with waived fees and free trademarks, which provided undue benefits valued at $873,000. The FTC decided not to refer the chairman to prosecutors due to the benefit amount and uncertainty over his involvement. Despite high quarterly sales, Celltrion's third-quarter net income dropped 62%.

4 months ago
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