Aspen cleared of alleged anti-competitive behavior by DA

Durban – JSE Limited-listed Aspen Pharmacare (APN), a leading pharmaceutical company in the southern hemisphere, has welcomed the statement issued by the Democratic Alliance (“DA”) earlier today in which it has confirmed that it is satisfied that there is no evidence that Aspen has engaged in alleged anti-competitive behavior as per the DA’s statement issued on 19 April 2017.

The statement issued by the DA on 29 May follows below:

Competition Commission investigates conduct of all pharmaceutical companies operating in South Africa and BRICS

The DA welcomes the Competition Commission’s preliminary investigation into the market conduct of all pharmaceutical companies operating in South Africa and in the BRICS (Brazil, Russia, Brazil, India, China and South Africa) consortium.

The World Bank has raised concerns about cartel-like practices that tend to drive medicine prices upwards and this requires investigation.

Following extensive high-level engagements between Aspen Pharmacare and the Health Portfolio of the Democratic Alliance, necessitated by a previous press release, the DA is satisfied that there is no evidence that Aspen is involved in the same practices that they are accused of having pursued in Europe.