Aspen shares rise as DA pulls back demand for probe
The DA had asked the Competition Commission and the Medicines Control Council to investigate Aspen’s market conduct
Generic drug makers Aspen’s share price rose 2.01% to R298.60 on Tuesday on news of the DA retracting claims that it had been price gouging in SA. In April, the DA asked the Competition Commission and the Medicines Control Council to investigate Aspen’s market conduct in SA, as it is being probed by regulators in Spain and the UK. The drug maker also faces a price-hiking fine in Italy and a probe by the European Competition Commission. The Competition Commission said at the time that it had begun a preliminary investigation into the pharmaceutical sector. Not only were private sector prices capped at the single exit price, but state tender prices could not go above this threshold either, he said. The Competition Commission had not responded to a request for comment at the time of publication. Aspen drew fire earlier in 2017 for failing to inform shareholders of the investigations in Spain and the UK and the €5m fine imposed by the Italian authorities for raising the prices of some d...