The pharmacy group will pay R1.2m although the commission had asked that it be fined 10% of annual turnover, which would have amounted to more than R2bn
Dis-Chem has withdrawn its appeal at the Competition Appeal Court after being found guilty of excessive mask pricing.Dis-Chem will pay a R1.2m fine although the commission had asked that it be fined 10% of annual turnover, which would have amounted to more than R2bn.
“The price increases that occurred during the state of national disaster were regrettable. We believe that the Tribunal made a right call by condemning the conduct.” Bonakele said. In late February and early March, before there was a case of coronavirus in the country, Dis-Chem increased its prices from R43.47 for 50 masks to R156.95, which was a 261% increase. Other mask packs increased by 43%, with no input in its cost price.
The Competition Act, under which they were found guilty, requires the firm to be found to be a dominant market player — one that can set prices independent of competitors — which Dis-Chem lawyers said had not been proven.
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