Watchdogs warn pharmacies not to hike price of face masks | Money


>

Two UK watchdogs have warned pharmacies they should not be overcharging customers for in-demand items including face masks, hand sanitiser and paracetamol.

With face masks compulsory on public transport and increasing numbers of people returning to work, these products remain in high demand but in a joint letter to businesses, the Competition and Markets Authority (CMA) and the General Pharmaceutical Council said this was not an opportunity to hike prices.

They said although most firms were doing the right thing, they had received reports “alleging that a small minority of pharmacies are seeking to benefit from the coronavirus pandemic by charging unjustifiably high prices for essential products”.


The CMA referred to investigations it has launched into four retailers, including pharmacies, it suspected had charged “excessive and unfair” prices for hand sanitiser products.

The GPhC said it had written to some pharmacies asking them to review the prices they were charging for particular items and consider whether they should be changed.

The regulators said they recognised wholesale prices for some items had increased as a result of high demand but companies selling these on to consumers should not be increasing their mark-ups on them.

Extra costs for PPE and cleaning products might justify limited higher mark-ups across the board but the CMA said pharmacies should not be applying these disproportionately to essential items “unless the additional costs specifically relate to the sale of those products”.

The letter said pharmacies should ensure their prices “do not include higher than usual mark-ups, when compared to their pre-coronavirus mark-ups for those products and their mark-ups more generally”.

The CMA set up a coronavirus taskforce in the early days of the pandemic and has been collecting complaints from consumers throughout lockdown. It has warned companies it will take action if they are found to be cashing in on items that are vital for many people.

In April, it sent advisory or warning letters to 187 firms after receiving 2,500 complaints about large price rises on food and personal hygiene products such as hand sanitiser. Companies that do not comply can be taken to court.



Source link

Retail News Subscribe – One mail per day with summary

Enter your email address:

Delivered by FeedBurner

SUBSCRIBE

Enter your email address:

Delivered by FeedBurner

Safe content check

Affiliate Declaration

www.askwebman.com (askwebman.com) is a participant in the Amazon Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to amazon.in.

In addition to askwebman’s participation in Amazon’s program, askwebman.com also participates in a number of other affiliate programs. That means when someone clicks on an affiliate link and purchases a product,askwebman.com receives a small commission.

This commission does not cost you anything, nor does it affect our judgement when it comes to selecting which products we showcase in our content.

 

Product categories

New Products update – One mail per day

Enter your email address:

Delivered by FeedBurner

Retail News update – One mail per day

Enter your email address:

Delivered by FeedBurner