Mead Johnson settles with China over baby formula probe

(Reuters) – Mead Johnson Nutrition Co said on Tuesday it would pay a penalty of about $33 million related to a probe by China into possible price fixing and anti-competitive practices by foreign baby formula makers. The maker of Enfamil formula said that as a result of its antitrust review, China’s National Development and Reform Commission (NDRC) had assessed administrative penalties against Mead Johnson and a number of other milk formula companies doing business in China. …