The pharmaceutical competition investigation has had a key deadline extended this month. The time being allowed for the analysis of information has been moved.
The ongoing pharmaceutical competition investigation is an important one. The Competition and Markets Authority (CMA) is looking into potential breaches of important competition law. Specifically, they’re looking at two different generic pharmaceutical drugs and whether there are illegal anti-competitive agreements and conduct in place.
This is an important sector when it comes to healthy competition. Any breaches need to be severely punished.
Pharmaceutical competition investigation ongoing
The pharmaceutical competition investigation is an ongoing one. The recent confirmation that additional time for information to be gathered and reviewed is perhaps a testament to just how important this one is.
We’re now expecting developments in June 2019 following the extension that has been confirmed this month. The investigation was opened in October 2017, and the CMA has yet to reach a decision as to whether any breaches have occurred.
Why is the pharmaceutical competition investigation so important?
The pharmaceutical competition investigation is incredibly important for a number of reasons. The product here is medication: stuff that helps us live better. If anti-competitive practices mean consumers are being ripped off, people are essentially being punished for their ailments.
That’s not fair. Its not fair for consumers to suffer at the hands of profit-greedy firms anyway, but when it comes to health and wellbeing, it can be even more important.
On top of that, our tax-funded NHS can suffer as well. If the NHS are paying over the odds for drugs as a result of anti-competitive agreements, the pharmaceutical companies are wrongly profiting from the pockets of the people. Our NHS is stretched enough when it comes to funding; having to pay over-the-odds for medication isn’t fair, and wastes taxpayer money. It also wastes valuable resources that could be better used elsewhere.
We’ll continue to keep a very close eye on the developments of the pharmaceutical competition investigation. It’s important that the investigation is thorough, and it’s important that any breaches of vital competition law identified are punished.