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FTC slaps $32 2 mil in fines on drug firms for bid-rigging

Korea s antitrust regulator said Thursday it has decided to slap combined fines of 40.7 billion won ($32.2 million) on 32 pharmaceutical companies involved in collusive practices in the government s procurement bids.

Questions remain over Dongwon s plans to buy McDonald s Korea, Boryung Biopharma

Dongwon Industries, the holding firm of Dongwon Group, signed a memorandum of understanding with Boryung Partners recently to acquire a controlling stake in Boryung Biopharma, which is estimated to be worth 500 billion won ($384 million). Once the acquisition deal is finished, Dongwon Group will be able to enter the biopharmaceutical industry for the first time in its 54-year history.

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