CMA launches COVID-19 taskforce to combat drug price hikes

CMA launches COVID-19 taskforce to combat drug price hikes

According to the European Pharmaceutical Review, the UK Competition and Markets Authority (CMA) has set up a task force to track retailers who have used the outbreak of coronavirus to raise drug prices.

The tasks of the working group are to analyze the development of the market and identify violations immediately after their manifestation and to scrutinize violators. The working group has already noted overpriced disinfectant prices. The task force also has the right to apply coercive measures if violators were warned, but did not respond to the warning.

Furthermore, the working group can act as an adviser to the government so that antitrust laws do not interfere with specific measures to protect public health during a pandemic.
The creation of the working group was preceded by the increase in some pharmacies in the price of a package of 32 tablets of paracetamol from £ 1.39 to £ 9.99.

Furthermore, The British government has banned the parallel export of more than 80 types of drugs to avoid shortages amid the spread of coronavirus, the Independent newspaper reported.
The ban includes insulin, morphine, paracetamol, adrenaline, antibiotics and other drugs. All of these drugs are in high demand in Europe. Companies that violate the ban risk losing their license to trade.

The list of drugs prohibited for export is not final. The authorities are ready to include other drugs in it, if necessary, according to Independent in the Ministry of Health of the Kingdom. UK Health Secretary Matt Hancock encourages retired doctors and nurses to return to work.