German drugmaker Bayer said anti-trust regulators paid their local office in China a visit to investigate for potential unfair competition practices. Bayer said they were cooperating fully with the authorities but gave no further details of the probe. "We are taking the investigation seriously and are fully cooperating with the authority," Bayer said in an email sent to Reuters.

The Greater China operations of Bayer employed a workforce of 11,000 people. The Asia-Pacific region also comprised a quarter of the worldwide revenues of the drug manufacturer.

Bayer said they would take the appropriate steps if employees were found to have broken the rules. "In case of allegations or non-observance of the Bayer Corporate Compliance Policy by employees, Bayer will investigate them thoroughly and take full responsibility for appropriate measures," the company said.

The regulators conducting the investigation were led by China's State Administration for Industry and Commerce (SAIC). The scope of the SAIC included investigations that had to do with commercial bribery and anti-competition issues that were not related to price, Reuters said.