Competition Commission investigates high cancer drug prices
Durban-based pharmaceutical company, Aspen is rejecting claims that it overprices cancer medication.
The Competition Commission announced it's launching a probe into a number of companies - including Aspen - for the alleged "abuse of dominance".
Spokesperson, Sipho Ngwema says the investigation is of national importance because it effects the vulnerable.
"We are investigating them for an increase in pricing. There are a number of drugs that they distribute in South Africa that involves treatment of leukaemia and bone marrow cancer, for instance. We believe that the prices are very [excessive]. There are instances where Aspen has increased medication from between 300% to up to 1300%," he said.
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Other pharmaceutical giants being investigated are Roche Holdings, and Pfizer.
Aspen said in a statement that it has not increased its pricing outside of the legal framework and has demonstrated its commitment to providing quality medication.