Tiger Brands to reply to competition body
Tiger Brands has said it will reply to the Competition Commission's drug price-fixing charges within three weeks.
Embattled consumer foods and healthcare group Tiger Brands will reply to the Competition Commission's drug price-fixing charges by April 22 after it successfully sought an extension, it said on Friday.
Last month local antitrust authorities said they had enough evidence to prosecute Tiger Brands' unit Adcock Ingram Critical Care, as well as two other unrelated parties, for fixing prices of drugs supplied to hospitals.
"The extension was sought and obtained to enable Tiger Brands to complete the investigation initiated by Tiger Brands into the allegations made against AICC," the company said.
"The investigation has made significant progress, but there has been insufficient time for it to be completed," it added.
It is expected that the investigation will be completed before April 22 2008.
Upon completion of the investigation and prior to April 22, the board of Tiger Brands will consider the outcome, and a decision would be taken with regard to the further conduct of the proceedings.
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