Johnson & Johnson ordered to pay 530,000 yuan for setting price floor

Medical giant Johnson & Johnson has become the first Fortune 500 company to be ruled by a Chinese court as holding a monopoly, in a landmark lawsuit that experts say signals the country's tougher stance toward price-fixing.

In a final verdict on Thursday, Shanghai High People's Court ordered Johnson & Johnson Medical China Ltd and Johnson & Johnson Medical Shanghai Ltd to pay 530,000 yuan ($86,456) in compensation to a former dealer.