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Aspen welcomes Competition Commission probe into anti-competitive behaviour

Media reports surfaced last week, alleging that the company’s staff plotted to dispose of life-saving cancer medicine to boost its price across Europe.

FILE: Aspen Pharmacare logo. Picture: Aspen Pharmacare

JOHANNESBURG – Aspen Pharmacare says it believes a Competition Commission probe will prove the company did not engage in anti-competitive behaviour.

The Democratic Alliance (DA) on Sunday announced the commission will launch an investigation into the company on its request.

Media reports surfaced last week, alleging that the company’s staff plotted to dispose of life-saving cancer medicine to boost its price across Europe.

In a statement released on Sunday, Aspen Pharmacare says pharmaceutical prices are approved by the Department of Health in terms of the Single Exit Price regulatory framework.

It says this framework creates a universal fixed price for each pharmaceutical product.

Officials have welcomed an investigation by the Competition Commission of South Africa into allegations that staff wanted to create an artificial shortage of cancer medicines.

The DA says the probe will open up the market conduct of all pharmaceutical companies in the country.

(Edited by Leeto M Khoza)