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Saftu welcomes price-fixing probe into pharmaceutical companies

The investigation followed concerns raised by cancer organisations that medicines are overpriced.

Medicine. Picture: sxc.hu

JOHANNESBURG - The South African Federation of Trade Unions (Saftu) has welcomed the Competition Commission’s investigation into price-fixing allegations against pharmaceutical companies.

The investigation followed concerns raised by cancer organisations that medicines are overpriced.

The companies under investigation include Roche, Pfizer and Aspen.

The federation says as a result of exorbitant prices, most cancer patients in both the private and public sectors have died because they cannot afford treatment.

Saftu's Patrick Craven explains: “The South African Federation of Trade Unions is absolutely shocked that a small number of large pharmaceuticals are making huge extortion profits at the expense of very sick people. The Competition Commission has decided to investigate and we support it.”

(Edited by Shimoney Regter)