Seven local pharma firms under probe by MyCC

A person holds pharmaceutical tablets and capsules in this picture illustration taken in Ljubljana September 18, 2013. — Reuters pic
A person holds pharmaceutical tablets and capsules in this picture illustration taken in Ljubljana September 18, 2013. — Reuters pic

KUALA LUMPUR, Oct 10 — Seven local pharmaceutical firms are being investigated by the Malaysian Competition Commission (MyCC) over alleged anti-competitive agreements and abuse of dominance in the sector.

Its chief executive officer Datuk Abu Samah Shabudin said they were part of 13 cases and 11 complaints received by the commission so far.

“The investigation is being carried out in conjunction with the Health Ministry.

“There have been cases of wholesalers charging different prices of medicine to suppliers. This is the main problem now,” he told reporters on the sidelines of a forum on competition law in the pharmaceutical sector here today.

The forum was opened by Domestic Trade, Cooperatives and Consumerism Minister Datuk Seri Hamzah Zainudin.

In his speech, the minister noted that all government hospitals provided free medication or at very highly subsidised fees.

Prices in the private sector, he said, were not regulated and were wholly dependent on prevailing market forces.

Hamzah said pharmaceutical pricing practices and controls varied cross countries. — Bernama

Related Articles