Pfizer Inc (NYSE:PFE), which happens to be a top U.S drugmaker has dismissed the allegations that it over-charged the cancer medicines in South Africa. An investigation had some time back been launched into some three drug companies on Tuesday. The country’s competition watchdog was the one behind the investigation.
The Competition Commission gave its word citing that it would soon investigate Aspen Pharmacare, Africa’s biggest generic drugmaker. On top of that, it will also be investigating Swiss-based Roche Holding and Pfizer. It suspects that the three have been charging too much for cancer medicines.
Pfizer continues to deny the allegations that it supplied the lung cancer product at the alleged price of 152,000 rand ($12,046) .According to Yahoo.com, the company has promised to fully cooperate with the investigations underway and believes it will be vindicated at the end of it all.
In a recent statement, the provider affirmed that it indeed awaits the opportunity when it will finally be summoned by the Commission. It intends to take advantage of the opportunity clarify the pricing for its product and everything else surrounding the matter.
The Commission had earlier outlined that it had with it critical information related to the suggested Pfizer’s lung cancer treatment cost. It outlined the figure as standing at approximately 152,000 rand for 250 mg when bought through an agent.
A Durban based provider by the name Aspen has also been in the frontline denying related allegations. According to some lawyers representing it, it expressed its standpoint insisting that it had not increased its prices for medicines. This was of course in regards to the prices for medicines used to treat leukaemia beyond the margin that the South African health department had brought forward.
Through an email, Roche asserted that the commission had not formally notified it. However, it said it was willing to show full cooperation in the investigations being conducted.
It is not the first time that such controversies are showing up. Every company wishes to uphold its good name at all costs. The above outlined companies continue to exude much confidence that they will get through this and be able to restore the confidence it has lost since it started facing these allegations.
