The Competition Commission will conduct an investigation into the alleged anti-competitive conduct of Aspen Pharmacare, the Democratic Alliance said on Sunday.
“It is important that any possible anti-competitive behaviour, which would push up the price of medication for our people, must be fully investigated,” said DA MP Wilmot James in a statement.
Earlier this week, the DA asked the Competition Commission and the Medicines Control Council to investigate claims of anti-competitive behaviour by pharmaceutical firm Aspen.
The DA says the probe will expose the market conduct of all pharmaceutical companies in the country.
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.
Aspen shares dropped after UK reports claimed it had secretly planned to destroy life-saving cancer medicines, as a threat to force countries in Europe to allow price hikes.
The company is already in an ongoing legal process with European regulators, as well as a court in Italy.